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German airline Lufthansa is looking to sell its 13-percent stake in Luxembourg’s Luxair for an undisclosed sum, a company spokesman said on Tuesday.
“We regularly review our shareholdings to see if they are still compatible with our current strategy and we have decided to put the 13-percent stake up for sale,” the spokesman told AFP.
He declined to provide any financial details, but said the price would be in line with “the usual conditions for comparable transactions.”
Lufthansa acquired the stake in 1993 and it will first be offered to Luxair’s other shareholders, the state of Luxembourg itself which holds 39 percent, and the country’s savings bank Banque et Caisse d’Epargne de l’Etat (BCEE) with 21.8 percent.
esp-spm/rl