Austrian Airlines releases statement in regards to Lufthansa bid

“The announcement that the syndicate partners have accepted the takeover bid of Lufthansa marks an important milestone in the privatisation process. Now, following the signing of the agreement between ÖIAG and Lufthansa in Dec-2008 and the takeover bid submitted by Lufthansa to small shareholders of Austrian Airlines AG at the end of Feb-2009, we are another step closer towards the closing.”

In mid-Mar-2009, the Executive Board of Austrian Airlines recommended its shareholders to accept the takeover bid of Lufthansa, as the offered price of EUR 4.49 per share is clearly above the equity value per share of Austrian Airlines as at 31-Dec-08. The valuation procedure used by the Executive Board of Austrian Airlines shows that the price offered by Deutsche Lufthansa can be qualified as being attractive.

(c) Centre for Asia Pacific Aviation. Date posted: 08-Apr-09

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