Lufthansa has finally made its formal bid for Austrian Airlines. The German airline intends to initially acquire the 41.56% share in Austrian Airlines held by the Austrian government's holding company, (OIAG). It has offered to pay just 366,000 euros ($463,280) for the Austrian government's share, plus 163 million euros ($206 million) if Austrian Airlines hits certain performance targets. Given the current climate that will be hard. Then, Lufthansa make a public takeover bid for private and institutional shares. Lufthansa plans to pay 4.44 euros per share, or 215 million euros ($272 million), for the outstanding shares.
With LX firmly under control, The German empire of Lufthansa will embrace most of the central part of Europe.
Next up - SAS or AZ or both. Then the others will fall like flies - Poland's LOT etc.
1 comment:
Hi Professor- Like your artcile. Looks like we cover some of the same sector.
Perosnally, I am more interested in what LH will do w its bmi share- and what SAS will do with their 20% share that they need to desperately divest. I think that is the real story with LH.
Though you make a good point with LOT.
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