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ITA Airways (2): the challenge is between two pacts

Parties will submit takeover bids by Monday

There will be two international cordates vying for the takeover of Italy's flag carrier ITA Airways: the US-based Certares fund in partnership with the airlines Air France and Delta Air Lines on the one hand; the Italo-German axis between the shipping company Msc and the air carrier Lufthansa on the other hand. According to the Economy Ministry's forecasts, the purchase proposals will be "conditional" on obtaining certain requirements. 

The two parties will submit a binding purchase offer by Monday, May 23, 2022, containing the amount the two parties are willing to pay to take possession of the majority stake in the airline. In addition to this, some conditions could come true: prolonging the negotiations (in-depth and due diligence), having guarantees on unresolved issues (capital increase), assessing who will hold the minority stake, how much the latter will amount to or claiming the right of first refusal.

On the same topic see also the article published by AVIONEWS

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AVIONEWS - World Aeronautical Press Agency