After Lufthansa and the shareholders of SN Airholding had agreed on the terms of the complete takeover, Deutsche Lufthansa AG’s Executive Board decided to exercise the call option for the outstanding 55 percent of the shares. The call option comes into effect by 31 December 2016. The closing of the transaction will happen by the beginning of January 2017.
The price mechanism for the take-over of the remaining 55 percent of the shares had already been part of the agreement for the call option in 2008. The price for the acquisition of the remaining 55 percent of the shares is 2.6 million euros, which will be paid to a consortium of 30 shareholders.
Carsten Spohr, Chairman of the Executive Board and CEO of Deutsche Lufthansa AG: “Following the acquisition of the 45 per cent share of SN Airholding eight years ago, we now want to take a next step in our already very solid and successful cooperation. As a longstanding shareholder and partner of Brussels Airlines, we are already closely linked to each other. Accordingly, we value Belgium and especially Brussels as highly attractive markets that perfectly complement our offer in the heart of Europe. In addition, Brussels Airlines has a competitive cost structure already and brings a well-established long-haul network, especially to and from Africa, to the Lufthansa Group portfolio. We also very much appreciate the high qualification, motivation and performance of the 3,500 Brussels Airlines employees.”
After the acquisition, Brussels Airlines will continue to operate its 23 long-haul destinations as well as 79 destinations within Europe under the umbrella of the Eurowings Group. The brand ‘Brussels Airlines’ will be complemented by the claim “Member of the Eurowings Group”. The common goal of Lufthansa and Brussels Airlines is to further strengthen the market position in the Belgian Airline market.
