German auto maker, Daimler, has offered to sell a 7.5% stake in Airbus parent, European Aeronautic Defense & Space (EADS), to the German government, The Wall Street Journal reports. The value of the stake is estimated to be about €1.3 billion.
German Chancellor, Angela Merkel, will hold a cabinet meeting next week to discuss the proposal as one of several options. Daimler and a consortium of German banks and insurers, Allianz, Deutsche Bank, Goldman Sachs and German state-owned development bank, KfW, own a combined 22.5% of EADS.
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