Lufthansa approves minimum €215.4 million takeover of Austrian

Source: ATW Daily

"Lufthansa's supervisory board yesterday approved the acquisition of Austrian Airlines Group, starting with the purchase of state holding company OIAG's 41.56% share for €366,000 ($463,000). LH said it also will issue a debtor warrant potentially worth up to €163 million, "depending on Austrian Airlines' economic performance and the Lufthansa share outperforming its competitors." The German company then will make a €215 million bid for Austrian's remaining shares at €4.44 per share, subject to approval from Austrian competition authorities. The per-share price equals the average weighted market price over the past six months." La suite.