The Deal
Saturday, November 21, 
6:06 pm

Air France-KLM vies with Lufthansa for Alitalia

  Share     E-Mail    Discussion    Print Story
alitalia.gifTwo of Europe's biggest airlines are competing to buy minority stakes in Alitalia-Linee Aeree Italiane SpA, as a planned relaunch of the near-bankrupt carrier edges closer. Alitalia held a board of directors meeting Friday to approve first-half results and formalise a request to seek bankruptcy protection.

 

Continue reading below

Also on Dealscape

As part of the board's reorganization and approval to file for bankruptcy protection only the airline's loss-making units will be left under bankruptcy protection and the rest will be acquired by a holding company composed of 16 Italian investors, according to the The Guardian.

Executives from Air France-KLM spoke with bankers at Alitalia adviser Intesa Sanpaolo SpA to discuss the investment, which would underpin a commercial partnership.

Lufthansa has not confirmed its interest in Alitalia, though Italy's Transport and Public Works Minister Altero Matteoli said earlier this week that the airline could invest alongside 15 Italian businessmen who are putting up €1 billion ($1.47 billion) to finance the carrier. See the full story on TheDeal.com. - Paul Whitfield

Also See:
TheDeal.com's: European airlines weigh mergers
TheDeal.com's: Alitalia postpones board meeting
TheDeal.com's: EC opens Alitalia probe



Post a comment





The Deal Pipeline

Deal Video


Inside The Deal: Avaya Inc.'s Mohamad Ali on the company's next target.


More video...

Crisis On Wall Street
Technology
Deals of The Decade

Community

Industry Insight

Managing your shareholder base

Growth companies and their PE sponsors should be wary of the pitfalls that arise when they layer on tiers of preferred stock.


Industry Insight

Easing the stress of distressed M&A

Corporate buyers face numerous complexities when trying to identify the right moment to purchase a distressed asset.


Editor's Note

Editor's letter: Nov. 16, 2009

Beneath the veneer of Wall Streeters beats the same heart, stirred by the same determinants of behavior.


footspacer.jpg footspacer.jpg footspacer.jpg footspacer.jpg footspacer.jpg


©Copyright 2009, The Deal, LLC. All rights reserved. Please send all technical questions, comments or concerns to the Webmaster.