Deutsche Bank is selling a €341m ($421m) stake in Eads as part of a derivatives transaction it has entered into with DaimlerChrysler, the German car manufacturer. Four years ago, the bank led the flotation of the European aerospace and defence company.

DaimlerChrysler will retain its 30.1% of Eads held through an intermediate company but is hedging its direct holding of 2.7%, or 22 million shares, in the Deutsche Bank transaction to protect itself against a fall in the Eads share price while retaining exposure to the benefit of a share price rise.