European Aeronautic Defence & Space Co. NV (EAD.FR) said Tuesday it still aims to change the company's legal form into a European Company, or SE.

The legal form of an SE enables a company incorporated in different European countries to merge or form a holding company or joint subsidiary, while avoiding the legal and practical constraints arising from the different legal systems.

However, this is not a top priority, Chief Executive Louis Gallois said at the company's annual general meeting in Amsterdam. He added that it is more important that the operating business recovers further.

The transformation of Europe's largest aerospace group into an SE will take a lot of time, Gallois said. Therefore the company's management has decided against an immediate change, he said. The CEO pointed out though that the plans have not been abandoned. "Who, if not us, would be a better fit," the CEO said.

-By Kirsten Bienk, Dow Jones Newswires, +49 69 29725 500, kirsten.bienk@dowjones.com
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