Airbus confirms sells part of Dassault stake back to planemaker

PARIS (Reuters) - Airbus Group (AIR.PA) said on Friday it had sold about 8 percent of Dassault Aviation (AVMD.PA) back to the French planemaker in an off-market deal worth 794 million euros.

Coupled with plans by Dassault to cancel 9 percent of treasury shares held partly as a result of this deal, the operation will reduce Airbus's stake in Dassault Aviation from 46.3 percent to 42.1 percent, the two companies said in separate statements.

Airbus said it had sold the shares in a block trade for 980 euros per share.

Airbus pledged its "best efforts" to sell up to a further 10 percent of Dassault Aviation by June 30, 2015, using one or more placements in which Dassault Aviation would be offered half of each slice sold, up to a limit of 5 percent of its capital.

(Reporting by Tim Hepher; Editing by Leila Abboud)