Morgan Stanley, Credit Suisse to join consortium for EADS stake buy - report |
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Tue, 09 Jan 2007 21:22
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BERLIN - Several international investment banks, including Morgan Stanley and Credit Suisse, are looking to form part of a consortium set to buy a 7.5 pct stake in EADS from DaimlerChrysler, according to a report in tomorrow's edition of Financial Times Deutschland, citing financial and government sources.A consortium comprising Goldman Sachs, Deutsche Bank, Commerzbank and public sector German bank KfW has reportedly already reached an agreement with the German government to acquire the 7.5 pct stake currently held by DaimlerChrysler.The automotive group is seeking to reduce its stake in EADS to 15 pct from 22.5 pct, but the German government wishes to ensure that the shares remain in German hands so as to maintain the Franco-German balance of power within EADS.FT Deutschland writes that the German government is planning to extend the consortium to a dozen banks, the names of which will be announced this month.newsdesk@afxnews.comafp/vbCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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