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Airbus raises $2.7 billion from Dassault stake, bonds

Staff writer |
Airbus Group had raised 2.4 billion euros ($2.7 billion) from share and bond sales designed to sever its 18-year connection with Dassault Aviation, unwinding its role as a custodian on behalf of the French government.

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The European aerospace group said it had sold 1.33 million shares in the family-controlled maker of warplanes and business jets, of which 62 percent went to institutional investors and the rest to Dassault Aviation itself.

The shares, representing a combined 14.55 percent of Dassault's capital, were sold for 950 euros each.

Airbus Group simultaneously issued a 1 billion euro 5-year, zero coupon bond exchangeable into Dassault shares. When fully redeemed, this would result in Airbus getting out of Dassault completely.

Airbus Group inherited the Dassault stake from former state-owned Aerospatiale when it was founded in 2000, along with a Paris headquarters building which has since been sold.

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