Airbus Group has disposed of all its remaining shares in Dassault Aviation. The group announced on 10th June that it had completed the sale of approximately 0.83 million shares, representing around 9.05% of Dassault Aviation share capital, for a total amount of around €784m. The sale price determined in the bookbuilt offering to institutional investors was €950 per share.
Simultaneously, as part of its share buyback programme, Dassault Aviation purchased 502,282 shares (representing around 5.5% of Dassault Aviation’s share capital), at a price of €950 per share.
In addition to the equity placement and the buyback, Airbus Group will issue bonds due 2021 for a nominal amount of €1,078m, which will be exchangeable into Dassault Aviation shares at a premium of 37.5% above the equity placement price, representing an exchange price of €1,306.25.
Following the equity placement and the buyback, Airbus Group will hold approximately 9.0% of Dassault Aviation’s share capital and 11.7% of its voting rights. In case of exchange in full of the bonds or exercise of its share redemption option, Airbus Group will no longer hold any of Dassault Aviation shares and voting rights.