Le Figaro owners sell stake to Serge Dassault.

Byline: Alan Tillier in Paris

France's powerful Hersant family, which founded the country's venerable conservative daily Le Figaro more than a century ago, has sold a large stake in the paper to wealthy aerospace executive and publisher Serge Dassault.

Dassault, the 77-year-old chief of Dassault Aviation, will acquire 30% of Socpresse, which is the parent of Le Figaro and holds a network of provincial dailies and printing presses.

No price was given for the sale, although media reports estimated the cost to Dassault at "several hundred million" euros.

Dassault made the purchase through a family financial company, Groupe Industrial Marcel Dassault, named after …