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Sale of BAE stake
On 6 April 2006 plans were announced that BAE Systems was to sell its 20% share in Airbus, then "conservatively valued" at €3.5 billion (US$4.17 bn).[59] Analysts suggested the move to make partnerships with U.S. firms more feasible, in both financial and political terms.[60] BAE originally sought to agree on a price with EADS through an informal process. Due to lengthy negotiations and disagreements over price, BAE exercised its put option which saw investment bank Rothschild appointed to give an independent valuation.
Singapore Airlines A380 departs from London Heathrow Airport
In June 2006 Airbus was embroiled significant international controversy over its announcement of further delays in the delivery of its A380. Following the announcement the value of associated stock plunged by up to 25% in a matter of days, although it soon recovered afterwards. Allegations of insider trading on the part of Noël Forgeard, CEO of EADS, its majority corporate parent, promptly followed. The loss of associated value was of grave concern to BAE, press described a "furious row" between BAE and EADS, with BAE believing the announcement was designed to depress the value of its share.[61] A French shareholder group filed a class action lawsuit against EADS for failing to inform investors of the financial implications of the A380 delays while airlines awaiting deliveries demanded compensation.[62] As a result EADS chief Noël Forgeard and Airbus CEO Gustav Humbert announced their resignations on 2 July 2006.[63]
On 2 July 2006 Rothschild valued BAE's stake at £1.9 billion (€2.75 billion), well below the expectation of BAE analysts and even EADS.[64] On 5 July BAE appointed independent auditors to investigate how the value of its share of Airbus had fallen from the original estimates to the Rothschild valuation; however in September 2006 BAE agreed the sale of its stake in Airbus to EADS for £1.87 billion (€2.75 billion, $3.53 billion), pending BAE shareholder approval.[65] On 4 October shareholders voted in favour of the sale,[66] leaving Airbus entirely owned by EADS.
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On 6 April 2006 plans were announced that BAE Systems was to sell its 20% share in Airbus, then "conservatively valued" at €3.5 billion (US$4.17 bn).[59] Analysts suggested the move to make partnerships with U.S. firms more feasible, in both financial and political terms.[60] BAE originally sought to agree on a price with EADS through an informal process. Due to lengthy negotiations and disagreements over price, BAE exercised its put option which saw investment bank Rothschild appointed to give an independent valuation.
Singapore Airlines A380 departs from London Heathrow Airport
In June 2006 Airbus was embroiled significant international controversy over its announcement of further delays in the delivery of its A380. Following the announcement the value of associated stock plunged by up to 25% in a matter of days, although it soon recovered afterwards. Allegations of insider trading on the part of Noël Forgeard, CEO of EADS, its majority corporate parent, promptly followed. The loss of associated value was of grave concern to BAE, press described a "furious row" between BAE and EADS, with BAE believing the announcement was designed to depress the value of its share.[61] A French shareholder group filed a class action lawsuit against EADS for failing to inform investors of the financial implications of the A380 delays while airlines awaiting deliveries demanded compensation.[62] As a result EADS chief Noël Forgeard and Airbus CEO Gustav Humbert announced their resignations on 2 July 2006.[63]
On 2 July 2006 Rothschild valued BAE's stake at £1.9 billion (€2.75 billion), well below the expectation of BAE analysts and even EADS.[64] On 5 July BAE appointed independent auditors to investigate how the value of its share of Airbus had fallen from the original estimates to the Rothschild valuation; however in September 2006 BAE agreed the sale of its stake in Airbus to EADS for £1.87 billion (€2.75 billion, $3.53 billion), pending BAE shareholder approval.[65] On 4 October shareholders voted in favour of the sale,[66] leaving Airbus entirely owned by EADS.
weight loss
workout dvds