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Airbus sells further 15 pct stake in Dassault Aviation

Reuters - UK Focus

PARIS, March 25 (Reuters) - Airbus Group (Swiss: AIR.SW - news) said it is selling a further 15 percent stake in business and fighter jet maker Dassault Aviation (Paris: FR0000121725 - news) as it continues to unwind its 16-year-old link to its defence market rival.

The move will see Airbus' stake drop to around 27 percent from 42 percent, it said in a statement on Wednesday.

Dassault Aviation, which has asked Euronext (Lisbon: ENX.LS - news) to suspend trading in its shares, said it will take part in the placement by purchasing a maximum of 5 percent of its share capital at a maximum price of 980 euros a share.

Airbus already cut its stake from 46.3 percent to 42.1 percent in November, saying then that it would make its "best efforts" to sell up to a further 10 percent of Dassault Aviation by June 30, 2015, in one or more placements. (Reporting by James Regan; Editing by Blaise Robinson)