Daimler to sell remaining stake in EADS

  • 16 April 2013
  • From the section Business
Airbus A380 planes
Image caption EADS is the parent company of Airbus

Carmaker Daimler is selling its remaining 7.5% stake in pan-European aerospace and defence group EADS.

Germany's Daimler, owner of Mercedes-Benz, said it would use to the funds to focus on its main carmaking business.

The shareholding in EADS is worth about 2.3bn euros ($3bn; £2bn) as of the end of Tuesday trading.

EADS is the parent company of aircraft manufacturer Airbus. EADS said it would buy about 600m euros worth of the shares.

Daimler also sold a 7.5% stake in EADS last year.

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