Airbus Group and Dassault Aviation aim to oversee the complete sale of Airbus's 4.8 billion-euro stake in the French planemaker by the end of next year, two people familiar with the matter said.
The French state divested a 1% stake in Netherlands-based aircraft and defense firm Airbus Group for €451 million ($614 million), according to the French economy minister.
The European Aeronautic Defence and Space Company or EADS plans to cut anywhere from 5,000 to 6,000 jobs and sell its Paris headquarters as part of its reorganization program, Le Figaro newspaper reported.
The French government hoped to help fund new state investments and boost national economy by divesting 3.5% of its stake in jet engine maker Safran.
The Children's Investment Fund proposed to the European Aeronautic, Defence & Space Co to distribute its Dassault Aviaton stake to its shareholders.
Marwan Lahoud said that EADS is undertaking restructuring in order to become the leading company in the civil aerospace industry.
EADS Chief Strategist Marwan Lahoud said EADS would take its time in making new mergers and acquisitions as the company restructures.
Airbus partnership with easyJet paid off as the low-cost carrier based in the UK helped the aircraft manufacturer inch closer to the 2013 target set by its parent company, the European Aeronautics Defence and Space Company (EADS).
The Children's Investment Fund demanded European Aeronautic Defence and Space Company to sell the 46% stake the latter holds in Dassault Aviation.
EADS said it will now be known as Airbus Group.
Bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies.
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