English
Deutsche Lufthansa AG, the second largest airline in Europe, is offering 391 million EUR (494 million USD) for Austrian Airlines AG in a move to consolidate operations and expand the number of destinations in Central and Eastern Europe. Lufthansa is offering 4.44 EUR/share for the free float shares and an initial 366,000 EUR for the 41.56% holding of the Austrian Government. The Austrian Government will receive another 162 million EUR when the merger leads to the achievement of certain profit targets, Lufthansa announced. The acquisition of Austrian Airlines will increase Lufthansa"s annual sales by 2.55 billion EUR to some 25 billion EUR, making Lufthansa the biggest airline in Europe in terms of sales, above Air France - KLM Group. This is Lufthansa"s 4th acquisition in the last 12 months.
Lufthansa Bids 391 Mio EUR For Austrian Airlines
A.V.
Ziarul BURSA #English Section / 5 decembrie 2008
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