i just wanted to provide some facts on how LH
wants to takeover LX
. i know that this very topic has been discussed several times, but for those who are looking for some precise information at one glance, i just wanted to provide a short overview of what i think seems to be very interesting move of taking over another airline.
accoding to Reuters and other sources (NZZ), LH
´s board might soon foward the following take over-plan to LX
must get another 500 million Swiss franc ($351.9 million) injection of capital from its shareholders
* in return, LH
would promise to pay back 300 million francs to Swiss investors via profit-sharing or dividends and the other 200 million in the form of options on Lufthansa shares
* the options would be exercisable in 2010 and give Swiss shareholders a seven percent stake in Lufthansa, making them the biggest minority investors in LH
* as reported several times, LH
would integrate LX
into its own network and have operational control
* it would keep the LX
brand and maintain Zurich as a hub in addition to its own Frankfurt and Munich hubs
* as an additional prerequisite for this deal, LX
must found a company which is required to sell surplus aircraft of LX
' biggest shareholders are the Swiss federal government with a 20.4 percent stake, UBS with 10.4 percent, the canton of Zurich with 10.2 percent and Credit Suisse Group with 10 percent.
it remains unclear whether they would be willing to stump up additional money - especially before parliamentary elections next month - to follow up on the public/private rescue of a national airline after Swissair collapsed in 2001.
however, it does seem unlikely that those shareholders regard the mere membership of LX
in oneworld as viable means to return LX
ok, anyone´s thoughts?
If only pure sweetness was offered, why's this bitter taste left in my mouth.