Berlin looks for private investor to buy into EADS

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Berlin is looking for a private investor to buy into the European defence group EADS, owner of plane maker Airbus, a source close to the the German government told AFP Tuesday.

"We are starting to look for private investors," said the source who did not wish to be named. Berlin will try to find an investor to buy half the 15 percent share of the company currently in the hands of German automaker Daimler before the end of the year, the source added.

Daimler has signalled it wants to divest part of its stake.

Experts had earlier expected the German government itself to buy the shares.

EADS saw its profits tumble 41 percent in the first half of 2011 to 109 million euros ($156 million) but maintained its positive outlook as orders soar.

The company attributed the fall in net profits to a weak dollar and forecast stable operating profits for the whole year and rising sales.

Airbus logged a series of huge orders for hundreds of its planes at this year's Paris air show, led by its upgraded and more fuel-efficient A320neo medium-haul aircraft.

© 2011 AFP

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