Air France-KLM: takes about 20% stake in SAS

(CercleFinance.com) - Air France-KLM announces that it has completed the acquisition of a 19.
9% minority stake in the Scandinavian airline SAS, following regulatory approvals in Europe and the US.

This transaction was completed by a consortium of investors which now holds an aggregate 86.4% stake in SAS (excluding the takeover by the Danish state as a creditor).

The Franco-Dutch airline has invested a total of $144.5m in SAS, and may increase its stake to become a controlling shareholder after a minimum of two years and subject to certain conditions.

At the same time, Air France-KLM and SAS have signed code-share and interline marketing agreements, which will come into effect on 1 September. On the same day, SAS will join the SkyTeam alliance, of which Air France and KLM are founding members.


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