Air Berlin increases its participation in NIKI from 24 to 49.9 percent
Tuesday 6, July 2010
Air Berlin PLC announces an increase of its participation in NIKI Luftfahrt GmbH. Following the fulfillment of all the contractually agreed conditions, the contracts notarized on 17 February 2010 have been implemented today.
Air Berlin PLC & Co. Luftverkehrs KG indirectly acquired 25.9 percent of the shares of NIKI Luftfahrt GmbH from the Privatstiftung Lauda (private Lauda foundation) and has thereby increased its current participation in NIKI Luftfahrt GmbH from 24 to 49.9 percent. The purchase price for the shares is EUR 21 million.
In connection with the increase of its participation, Air Berlin PLC & Co. Luftverkehrs KG will grant the private Lauda foundation a EUR 40.5 million loan. The private Lauda foundation has the option to repay the loan in three years, either in cash, or through the transfer of the remaining 50.1 percent of NIKI Luftfahrt GmbH’s shares.
Andreas Nikolaus (Niki) Lauda will remain at NIKI Luftfahrt GmbH's disposal for at least another three years.
NIKI Luftfahrt GmbH will be fully consolidated within the Air Berlin Group. NIKI Luftfahrt GmbH will remain a legally independent company with its own management. The "NIKI" brand will continue to exist in the foreseeable future.
Joachim Hunold, CEO of Air Berlin PLC, commented on the increased participation, as follows: "Following years of successful cooperation and partnership with NIKI, the increase of Air Berlin's participation is a logical development. NIKI's network complements Air Berlin's network very well."
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