Air France-KLM offers 300 million euros for 51% in Air Europa, El Confidencial reports [Yahoo! Finance Canada]
AIR FRANCE-KLM ADS (AFLYY)
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Source: Yahoo! Finance Canada
Air France-KLM, which said in November talks were underway, would also take over Air Europa's 475 million euro debt owed to the Spanish government, El Confidencial added. The offer comes one month after two sources with knowledge of the talks told Reuters German rival Lufthansa was considering making an offer for a minority stake in Air Europa. El Confidencial said on Tuesday Lufthansa was offering 240 million euros for a 25% stake. The Spanish airline is 20% owned by BA-parent IAG, which backed out of taking full ownership last year due to regulatory concerns. Air Europa, owned by Spanish family group Globalia, flies within Spain and between Madrid and large cities in Europe and Latin America. A spokesperson for Air France-KLM declined to comment, while Globalia did not immediately respond to request for comment. Lufthansa declined to comment. ($1 = 0.9179 euros) (Reporting by Inti Landauro; Editing by Kate Mayberry) Recommended Stories
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