January 31, 2023

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Eng: Lufthansa makes a bid for a minority stake – Economy

Lufthansa offers to buy a stake in Ita Airways. The group “submitted a letter of intent to the Italian Ministry of Economy and Finance,” read a note confirming that “if the parties decide to sign the MOU, further negotiations and discussions will take place on an exclusive basis.” The proposal initially concerned a minority stake.

“Thus, further in-depth conversations will focus mainly on potential equity investment forms and methods, on the commercial and operational integration of ITA into the Lufthansa Group and on the synergies that will emerge from them,” explains the note from the German group. The company adds, “If a contractual agreement is reached, the actual implementation will be subject to the approval of the relevant authorities.” For the Lufthansa Group, Italy “represents the most important market outside the domestic markets and the United States,” the note confirms. “The desire to integrate ITA Airways within the group companies lies in the country’s strong exchange on a global level, through business and private travel, in its strong export-oriented economy and in being one of the most attractive tourist destinations in Europe,” the note concludes.

“The Ministry of Economy and Finance has received a letter of intent from Deutsche Lufthansa AG to acquire a minority stake in Ita Airways Spa,” the ministry said in a statement.

“Mef reserves the right to check the adequacy of the offer in compliance with the requirements set by Dpcm. No further offers have been reached by the deadline set at 6pm today.”

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