Lufthansa and SN Airholding SA/NV in negotiations over strategic equity investment

Brussels Airlines has not been involved in an alliance to date. It operates services from the Brussels hub within Europe and also specialises in flights to Africa.
 
Lufthansa plans to initially acquire 45 per cent of SN Airholding at a proposed price of EUR 65m in the course of a capital increase. After two years and beyond Lufthansa would be authorised to exercise an acquisition option for the remaining 55 per cent. The price of this option is linked to the prospective performance of Brussels Airlines.
 
Over the next few weeks, Lufthansa intends to examine SN Airholding and conclude negotiations as to the contractual details. The planned equity investment in SN Airholding is yet to be approved by the Supervisory Board of Lufthansa, the Board and shareholders of SN Airholding and the antitrust clearance.
 
Both companies will inform about the progress of the negotiations in due time and have agreed on maintaining silence until then.
 


(c) Centre for Asia Pacific Aviation. Date posted: 29-Aug-08

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