09-Oct-2009 8:32 AM
TUI Travel PLC group company acquires 9.9 % of Air Berlin PLC
Direct News Source
08-Oct-2009 Implementing the agreement entered into on 7 September 2009, Leibniz-Service GmbH, a TUI Travel PLC group company, will acquire 8,437,393 new shares (which are to be issued) of Air Berlin PLC ("Air Berlin") for a price of EUR 3.97 per share.
Consequently, Leibniz-Service GmbH will hold a 9.9% participation in Air Berlin. Air Berlin will conduct a capital increase of a corresponding amount, thereby realising EUR 33.5 million in proceeds. The issuance of the shares and their admission to trading are planned for October 2009.
Leibniz-Service GmbH will reduce its minority shareholding in an orderly sell down over the course of the next years.
The proceeds from the capital increase will be used for general corporate purposes.