(Finance) – The new proposal arrived on the Government table from consortium led by Certares, Delta, Air France-KLM expects the US fund to acquire 50% plus one share in the company, more than the 40% envisaged in the first offer, effectively privatizing it. It is envisaged that the MEF can appoint the Chairman of the BoD and express its approval for the CEO. According to what has been learned, these are some of the terms of the proposed proposal. The initial value of ITA is confirmed at 700 million which then becomes 1,950 million with two capital increases subscribed respectively by the Ministry (650 million) and by Certares (600 million).
“Certares welcomes the decision of the Ministry of Economy and Finance to admit to an exclusive negotiation for the sale of a majority stake in ITA our consortium. We are firmly convinced of our vision for the development of the company, which we hope to be able to implement when the final and binding agreements are reached. We will work in the coming weeks with the MEF, with ITA, i our Delta consortium partners and AirFrance-KLM and all the stakeholders involved to achieve this goal “is what we read in a note released by the Certares fund.
“Air France-KLM welcomes the announcement by the Italian government to grant exclusivity to the consortium led by Certares for the next phase of negotiations aimed at a potential acquisition of a stake in ITA Airways. If the transaction is successful , Air France-KLM will become a commercial and operational partner of the company “. Thus Air France-KLM in a note, taken from Bloombergspecifying that at the moment “it will not enter the capital of ITA”.
Meanwhile today Lufthansaupon hearing the news of the Italian government’s decision, with a note he commented on “ours joint offer with MSC was and continues to be the best solution for ITA. We take note of the decision of the Italian government to take a path that allows greater influence of the state and does not provide for a complete privatization of ITA “.