Dépêches
Sale of SAS Shares in bmi to Lufthansa
Dépèche transmise le 1 octobre 2009 par Business Wire
STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
SAS (STO:SAS) (OSE:SASNOK) has held a 20% stake in the UK based British Midland PLC ("bmi"). According to the Core SAS strategy with focus on the Nordic home market this stake has been set out for divestment. LHBD Holding Ltd. ("LHBD") holds 80% of the shares in bmi since July 1 2009. LHBD is a UK-based company, in which Deutsche Lufthansa AG ("Lufthansa") holds a 35% stake.
On September 30 the SAS Group ("SAS") has reached an agreement with Lufthansa and LHBD to sell SAS 20% stake in bmi to LHBD. Under the terms of the agreement LHBD will acquire the 20 % stake for approximately MGBP 19 million. Furthermore Deutsche Lufthansa AG will pay SAS another MGBP 19 million for the cancellation of its rights resulting from the shareholder agreement dated 1999. In total SAS will receive a cash consideration of MGBP 38 resulting in a capital gain of approx MSEK 420. SAS will receive an additional payment from Lufthansa if further value in bmi can be realized within a period limited to 2 years.
Following the transaction, SAS will remain with a maximum exposure of MGBP 19 within a period limited to 2 years, in case of material adverse financial development of bmi and lack of financial support from Lufthansa.
SAS has been a shareholder in bmi since 1989 and SAS will continue to cooperate with bmi through its Star Alliance membership.
SAS Group Corporate Communications
About bmi
bmi is the second largest airline at London Heathrow and
operates services in the UK, Europe, the Middle East, Central Asia and
Africa. bmi is a member of Star Alliance, a grouping of 24 international
airlines.
This information was brought to you by Cision http://www.cisionwire.com
- 24/04Ibis Styles London Heathrow : l'hôtel géré par un passionné d'aviation pour les passionnés d'aviation (photos + vidéos)
- 23/04 SkyUp renouvelle son partenariat avec Wizz Air
- 23/04 Play : résultats de mars 2024
- 23/04 Les garde-côtes japonais commande trois Airbus H225 supplémentaires
- 23/04 Vueling et Make-A-Wish France signent un partenariat
- 23/04 TUI annonce ses destinations au départ de Deauville pour l'été 2024.
- 23/04 Twin Jet renforce son programme de vols sur la ligne Toulouse/Rennes
- 23/04 Norse Atlantic Airways : résultats du mois de mars 2024
- 23/04 Volotea renforce son offre entre Lille et le Maroc
- 22/04 Finnair a dévoilé son programme de vol pour les saisons hiver 2024 et été 2025
- 22/04 Qatar Airways annonce le lancement de vols à destination de Kinshasa
- 22/04 Vietnam Airlines et CAE prolongent leur accord
- 22/04 Mermoz Academy de Tours commande des Tecnam P-Mentor
- 22/04 Transavia France reçoit son 2e Airbus A320neo
- 20/04 Friedrichshafen 2024 : Blackwing présente un nouveau modèle de son BW650RG
- 20/04 Friedrichshafen 2024 : JMB Aircraft présente son Phoenix
- 19/04 Friedrichshafen 2024 : le projet "Fly To The North"
- 19/04 Friedrichshafen 2024 : Aura Aero présente pour la première fois ses trois appareils
- 19/04 Friedrichshafen 2024 : Duc Hélices présente son hélice Tiger-3
- 19/04 Friedrichshafen 2024 : Splash-in Aviation expose son Pétrel X