Reports: Airbus to Shed 23.6% Dassault Aviation Stake

acquisitionGlobal aerospace and defense contractor Airbus Group will sell its 23.6 percent stake in Dassault Aviation and use money from the stock sales for “general corporate purposes, ” the Wall Street Journal reported Thursday.

Robert Wall writes Airbus aims to shed 9.05 percent of its total ownership in Dassault through an accelerated bookbuild process and sell another 5.5 percent, or 502, 282 shares, back to the French aircraft manufacturer.

The Dutch company will dispose of the remaining stake via an estimated $1.13 billion placement of bonds meant to be exchangeable into Dassault shares through 2021,  according to a Bloomberg report published Friday.

Bloomberg estimates the stock sale transactions will help Airbus raise about $2.4 billion.

The report said Airbus has gradually sold its original 46 percent holding in the family-controlled manufacturer of combat and business jets since 2014.

Rothschild & Co. will act as the financial adviser to Airbus on the deal while Bank of America, BNP Paribas, Deutsche Bank, Goldman Sachs Group and JP Morgan Chase & Co. will manage the sales for Airbus.

Check Also

Leonardo DRS

Leonardo DRS Secures $250M Army Tactical Terminal Replacement Contract

Leonardo DRS has been awarded a five-year, $250M contract to replace the U.S. Army's satellite communications terminals designed for tactical users. The contractor will help the Army replace the terminals that are set for decommissioning in fiscal year 2025, the Department of Defense said Wednesday.

Vicki Schmanske President Leidos Intell Group

Leidos Books Potential $960M CBP Software Dev’t BPA; Vicki Schmanske Quoted

Leidos (NYSE: LDOS) has received a potential five-year, $960M blanket purchase agreement to develop software to support the Customs and Border Protection’s traveler vetting procedures.