Aircraft

Daimler acquires City of Hamburg's EADS stake

Germany’s Daimler has acquired the 6% stake in DCLRH, the holding company for its EADS stake, from the City of Hamburg, under an agreement arranged in 2003.

DCLRH wholly-owns Dasa, which is one of the major shareholders in EADS with 22.5% of the company.

A spokesman for Daimler says that the City of Hamburg has exercised its option to sell the 6% shareholding. Under the terms of the original agreement Daimler is paying €450 million ($660 million) for the stake.

EADS’ share price and its market capitalisation would indicate, however, that the City of Hamburg’s stake is technically worth only around €250 million. Daimler is not commenting further on the sale.