(Finance) – New important step in the negotiation Treasure- Lufthansa. This afternoon, the Ministry of Economy and Finance, the sole shareholder of the newco, announced that it had signed Lufthansa’s letter of intent, officially opening the exclusive negotiation with the German group for the sale of a minority stake in ITA.
According to the rumors circulated so far Lufthansa should put on the plate 250-300 million through a reserved capital increase to acquire a share of the 40% and then in a second phase to go up to 100% of the Italian company, in the wake of the strategy adopted in the past to take over Brussels Airlines.
After the signing of the memorandum of understanding “a phase of negotiations will begin with respect to the requests which does the Italian government and Lufthansa’s industrial projects”explained the Minister of Economy and Finance a few days ago, Giancarlo Giorgetti, emphasizing that “if the two projects collide and if they are coherent, a very important reality could be born which will also benefit the Italian economy”.
Exclusive negotiation – the insiders explain – means drafting the actual agreement, i.e. how much Lufthansa will immediately invest in Ita, therefore the industrial plan and governance of the future company, i.e. how its board of directors will be distributed. he will then sign a preliminary sales agreement (signing), which must have the green light from the Court of Auditors, dthe Italian Antitrust and the EU Antitrust. After the go-ahead from all three bodies, the aim is to sign the final contract by the beginning of June so-called closing, and therefore the operational entry of Lufthansa in Italy in a very short time.
In illustrating his interest in the newco, the German giant had also underlined that Italy “represents the most important market outside the domestic markets and the United States” and the will to “integrate” Ita within the companies of the group “resides in the strong interchange of the country on a global level, through business and private travel, in its strong export-oriented economy and in its being one of the most attractive tourist places in Europe”. In addition to the economic aspect, the Ministry of Economy and Finance will also evaluate the industrial one.
At the window the trade unions with the various category acronyms that have already asked the government to be “involved” in the negotiation.