France sells 1% stake in Airbus Group for €451m

France has sold 1 per cent of its share in Airbus Group for 451 million euros (614 million dollars), dpa cited Finance Minister Pierre Moscovici as saying Thursday. The sale of around 8 million shares in the European parent company of Airbus aircraft manufacturer took place after the close of trading Wednesday. France's reduction of its share in Airbus Group, through an accelerated placement with institutional investors, honours a deal with the German government to equalize the two countries' stakes in the group at 11 per cent. The French government has pared back its holdings in a number of companies in the past year, including Aeroports de Paris, in order to add money to the state coffers.