Airbus Group plans to sell approximately 1.38 million shares that it owns in Dassault Aviation, representing around 15 percent of the share capital, following a bookbuilt offering.
With this transaction, Airbus Group continues its plan to monetize its stake in Dassault Aviation.
The Placement is targeted at eligible institutional investors with final terms to be determined following a bookbuild which will be launched at 08:00 a.m. CET on 25 March 2015, and which is expected to end on 26 March 2015 at the latest.
The French State has elected not to exercise its right of first refusal under the shareholder agreement with Airbus Group with respect to the Shares to be sold in the Placement.
Upon completion of the Placement, Airbus Group will hold up to around 27 percent of Dassault Aviation’s share capital and associated voting rights and will agree to a 180-day lock up for its remaining shares of Dassault Aviation, subject to certain exceptions and waiver by the Joint Bookrunners.
The final terms of the Placement are expected to be announced on or about 26 March 2015. The trading of the shares on Euronext Paris will be suspended at the request of Dassault Aviation immediately following this announcement, and is expected to resume at 09.00 a.m. Paris time on the trading day following the completion of the bookbuilding exercise and after release by Euronext Paris of the appropriate notice.
The proceeds of the Placement will be used for the general corporate purposes of Airbus Group. In November 2014, Airbus Group sold to Dassault Aviation an 8 percent holding in Dassault Aviation through an off-market block trade. After the cancellation of around 9 percent of treasury shares by Dassault Aviation, Airbus Group’s holding was brought to around 42%.