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Lufthansa Commercial Holding GmbH, a one hundred-percent subsidiary of Deutsche Lufthansa AG, is selling its 66 percent stake in the Start Amadeus travel sales system, Bad Homburg, to Amadeus Global Travel Distribution
S.A., Madrid.
The supervisory boards of Lufthansa and Amadeus have agreed to this plan. Following antitrust permission, it is probable that the shares will be transferred to Amadeus in the first quarter of 2003. As a result, Amadeus will become the sole shareholder in Start Amadeus GmbH. The purchase price amounts to about 100 million euros.
Following the complete integration in the Amadeus Group, new growth prospects will open up for Start Amadeus in international markets. Even without its participation in Start Amadeus, Lufthansa plans to continue the successful cooperation with Amadeus. Lufthansa has a holding of 18.28 percent in Amadeus. The sale of the stake in Start Amadeus is a further step towards adjusting the Lufthansa Group’s portfolio to the changed general conditions. At the same time, the market position of Start Amadeus will be strengthened through the merger with Amadeus Global Distribution. |
