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Dassault Aviation 1992-1998 - State Ownership Changes

A memorandum released by the ministry of Defense and by the minister for the Economy and Finance on December 23, 1992, announced closer structural co-operation between Aérospatiale and Dassault Aviation and the reinforcement in their capital in SOGEPA (Société de gestion et de participations aéronautiques), a holding company for part of the State's share in the two groups. Then, on February 21, 1996, the President of the Republic, Jacques Chirac, announced the effective closer co-operation between Aérospatiale and Dassault Aviation, but this was interrupted by the dissolution of the National Assembly and the coming to power of a socialist government in April 1997.

On May 14, 1998, the ministry of Economy, Finance and Industry and the Minister for Defense announced that the Government had decided to transfer to Aérospatiale the shares held directly and indirectly by the State in Dassault Aviation's capital (45.76 %). In parallel, the Government asked Aérospatiale and Dassault Aviation to set up a strategic committee to optimize the industrial, commercial and technological resources of the two companies. Through this closer co-operation, the government intended to promote the implementing of a concerted strategy by the French aviation industry with the prospect of the alliances that it thought would be needed to be forged quickly between the main European players to form a powerful, competitive entity.

Another release on November 10, 1998 announced that to provide for the industrial consistency of this new entity, Dassault Aviation's assets would be changed prior to Aérospatiale taking a share in its capital: Dassault Aviation would acquire other shares in Dassault Industries in the aviation field. Its 34% share in Dassault Systèmes would be removed from the company's assets, since, among other things, Dassault Systèmes had several large customers that were competitors of Aérospatiale.




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