PARIS (AP) — European aerospace and defense company EADS announced Wednesday a new ownership structure in which Germany is set to join France and Spain as state shareholders — even as overall government influence shrinks at the company.

The parent company of plane maker Airbus, the archrival of U.S.-based Boeing Co., said the deal would eventually give the French and German government each 12 percent shares, while Spain would hold about 4 percent. Meanwhile, private sector investors Daimler AG of Germany and France’s Lagardere SCA would reduce their respective stakes.