German Cartel Office further extends deadline for its review of Air Berlin’s plan
22-May-2008 |
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German Cartel Office has reportedly further extended the deadline for its review of Air Berlin's plans to purchase a stake in Condor from Thomas Cook by two months to 11-Aug-08 (Reuters, 21-May-08).
Air Berlin announced plans in Sep-07 to purchase Condor in a two-stage agreement, giving Thomas Cook a near 30% stake in Air Berlin. Thomas Cook plans to sell Condor to Air Berlin in two stages: 75.1% in Feb-09 and the remainder in Feb-10 after Thomas Cook exercises an option to purchase Lufthansa's stake. Air Berlin will invest up to EUR600 million in the purchase.
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German Cartel Office further extends deadline for its review of Air Berlin’s plan 
