French daily newspaper Les Echos is reporting in its Monday edition on its website about the new agreement or a shareholder structure that has been agreed between France and Germany over the weekend with an aim to earn a 12 percent voting stake in Europe's largest aerospace group i. e. European Aeronautic Defence & Space Co. N. V.

The newspaper has reported, though without citing specific sources that both the nations have agreed to the plan, which now combines them at 24 percent with Spain at 4 percent enabling all the three states to now avoid the 30 percent threshold that initially had them off from buying the company's remaining shares.

According to the details provided by the newspaper, France has another 3 percent stake in EADS, outside of the arrangement. As the details go on, the deal is being expected to pave the way for Daimler AG of Germany and Lagardere SCA, enabling both of them to divest their respective stakes in EADS.

Moreover, the arrangement will also allow France and Germany with equal say in all the strategic decisions for the company, reports Les Echos.

No confirmations have been collected yet as French officials declined to comment and German officials were not immediately available for comment.