Lufthansa-related UK holding company will hold 100 per cent in bmi
With effect from 1 November 2009, Lufthansa-related UK holding company LHBD Holding
Limited (LHBD) will take over a further 20 per cent stake in British Midland PLC (bmi). These
shares are currently held by the SAS Group (SAS). Consequently LHBD will hold 100 per
cent in bmi.
Under the terms of the agreement LHBD will acquire the 20 per cent stake for approximately
GBP 19 million. Furthermore Lufthansa will pay SAS another GBP 19 million for the
cancellation of its rights resulting from the shareholder agreement dated 1999. Should
Lufthansa decide, on the background of its strategic analysis, to sell bmi completely or parts
of the company SAS will under certain conditions receive an additional payment, within the
next two years.
LHBD is a UK-based company, in which Lufthansa holds a 35 per cent stake. After obtaining
the necessary traffic rights, Lufthansa expects to be able to acquire 100 per cent of LHBD.