In an off-market block trade, Dassault Aviation bought back 810,072 shares held by Airbus Group on Friday, reducing the European conglomerate’s minority stake in the French aircraft manufacturer. The shares were sold back to Dassault at €980 each, making the total transaction worth nearly €794 million.

After this transaction, Airbus Group held 38.32 percent of Dassault Aviation’s share capital and associated voting rights. However, after Dassault’s cancellation of 9 percent of its treasury shares, Airbus Group’s stake will rise to 42.11 percent. Airbus, which expressed an interest in reducing its holdings in Dassault earlier this year, held a 46-percent stake before last week’s transaction.

Airbus pledged a “best efforts” commitment to sell up to 10 percent of Dassault Aviation’s share capital, subject to market conditions, by June 30 next year. “This additional transaction should take place in the form of an accelerated book-building through either one or several placements,” Airbus said. It could also increase the size of the placements beyond this 10 percent of Dassault’s share capital, according to Airbus.