Lufthansa to complete partial takeover of Italy's ITA Airways by year end

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Lufthansa to complete partial takeover of Italy's ITA Airways by year end

STORY: Lufthansa to complete partial takeover of Italy's ITA Airways by year end DATELINE: May 27, 2023 LENGTH: 00:01:01 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of the ITA Airways plane 2. various of the Lufthansa plane 3. various of information the ITA Airways planes on the display screen STORYLINE: Germany's Lufthansa Group will acquire a 41-percent stake in Italy's state-owned ITA Airways by the end of the year, with options to acquire the remaining 59 percent at some point in the future, Lufthansa's chief executive officer (CEO) said Friday. The deal was reached on Thursday after months of negotiations. The transaction would be financed at least in part by a Lufthansa capital increase of 325 million euros (347 million U.S. dollars), Lufthansa CEO Carsten Spohr told financial analysts and reporters on Friday. He added that it would take several months to complete the deal. "The closure of the transaction between Lufthansa and the (Italian) Treasury for the sale of a minority stake in I

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