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EADS sells stake in Embraer

Travel News Asia Thursday, 15 February 2007

EADS has sold its 2.12% stake in Embraer. Before taxes and bank fees EADS generated a total proceed of 124 million. Following changes in the shareholder structure of Embraer the participation had become a pure financial investment and was earmarked for sale as EADS is now focussing its attention on core matters and projects that it believes will provide future growth opportunities.

We remain fully committed to our partnership with Embraer, which has matured over many years, said EADS CEOs Tom Enders and Louis Gallois. Brazil and Latin America are important markets and we will continue to strengthen our industrial presence in the region.

While EADS invested last year in the Brazilian space company Equatorial, Eurocopter pursues efforts to develop new industrial and MRO service activities within its local subsidiary Helibras. Additionally, the newly created company Secure Network Brazil has started its digital telecom solution activities in 2006. The financial divestment from Embraer will not prevent EADS from further exploring areas of industrial cooperation with Embraer in the future.

EADS is a global leader in aerospace, defence and related services. The Group includes the aircraft manufacturer Airbus, one of the world's largest helicopter suppliers Eurocopter and EADS Astrium, an European leader in space programmes from Ariane to Galileo. EADS is the major partner in the Eurofighter consortium, develops the A400M military transport aircraft, and holds a stake in the joint venture MBDA, the international leader in missile systems.

See other recent news regarding: Airlines, EADS, Embraer

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