Lufthansa Still Expects To Get EU Approval To Buy SN Holding
27 January 2009 - 8:19PM
Dow Jones News
Deutsche Lufthansa AG (LHA.XE) still expects to receive
antitrust approval for its planned takeover of SN Holding SA, the
parent company of SN Brussels Airlines.
Lufthansa's executive board expects approval will be granted
eventually, company spokeswoman Claudia Lange said Tuesday.
Her comments came in response to the European Commission which
Monday said it would open an in-depth investigation into the
takeover plan, after an initial investigation showed the deal
"could significantly impede effective competition," particularly
for routes between Belgium and Germany and Belgium and
Switzerland.
In September Lufthansa said it intends to acquire 45% of SN
Holding for EUR65 million, with an option to buy the rest of the
business in 2011.
The commission now has a June 10 deadline to make a final
decision on whether to allow the deal.
Company Web site: www.lufthansa-financials.com
-By Kirsten Bienk, Dow Jones Newswires; +49 69 29 725 503;
kirsten.bienk@dowjones.com
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