Saturday, 1 October 2016
Last updated 9 hours ago
Nov 4 2013 | 11:11am ET
The Children's Investment Fund has found itself in an unusual position with regard to the European Aeronautic, Defense and Space Co.: full-throated support for its management.
TCI took a 1% stake in the Airbus parent this summer, pushing it to rid itself of its 46% stake in Dassault Aviation. EADS is thought to want to do so, but is currently blocked from divesting itself of Dassault under a warehousing agreement with the French government.
Despite that potential setback, TCI chief Christopher Hohn last week offered lavish praise for EADS CEO Thomas Enders and his "aggressive" cost-cutting plans.
"We believe the company is in the process of doubling and tripling its profitability," Hohn told the Ira Sohn Conference in London.