Marsans may buy Spanair for $467 mn

15th Jun 2007

Grupo Marsans SA is looking to buy Spanair SA, the Spanish airline controlled by Scandinavian carrier SAS AB (SAS.SK), within two to four months at a price similar to what SAS paid three years ago, reports El Pais in its Friday Internet edition, citing Gonzalo Pascual Arias, the chairman at Spanair and at Marsans. SAS paid 73.5 million euros for a 21 percent stake in Spanair, valuing 100 percent of the airline at 350 million euros ($467 million), the paper adds.

SAS said Wednesday it plans to sell Spanair, together with its holdings in U.K.-based airline British Midland Airways Ltd., or bmi, as part of a wider restructuring plan. SAS controls 100% of Spanair.


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