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Article: France : Dassault Takes a Major Stake in Thales.
- Article from:
- TendersInfo
- Article date:
- December 22, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: kusumv03
Alcatel-Lucent SA has accumulated losses of EUR 4.8 billion since 2006. As part of its efforts to refocus itself and improve its financial position, the firm has sold its 20.78% stake in major defense electronics firm Thales SA to Dassault Aviation SA of St. Cloud, France.
The sale price is reported to be EUR 38 per share, or about EUR 1.57 billion (about $2.25 billion). Dassault already owns 5.2% of Thales, but this purchase will make it Thales second largest shareholder after the French government s 27.1%. The deal is subject to regulatory approval and the standard caveats, but that is not expected to be a problem. In a separate ...