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Lufthansa Technik seeks investors in partial sale

Lufthansa Technik seeks investors in partial sale
Lufthansa Technik seeks investors in partial sale Copyright Thomson Reuters 2023
Copyright Thomson Reuters 2023
By Reuters
Published on Updated
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By Ilona Wissenbach and Emma-Victoria Farr

BERLIN/FRANKFURT - Lufthansa's aircraft maintenance business Lufthansa Technik plans to launch formal talks with investors this month about a partial sale, according to an employee briefing made available to Reuters.

Talks are due to start at the end of the month, with two rounds of negotiation by the summer. "We are right on schedule," said finance chief William Willms.

German airline Lufthansa, which on Wednesday offered to buy a minority stake in ITA Airways, hopes for proceeds of between 1 billion and 1.5 billion euros ($1.08 bln to $1.62 billion) for the sale of a 20% share in its maintenance arm, a source with knowledge of the matter said.

Lufthansa declined to comment on the possible proceeds.

The German business is seeking a partner that not only provides financial investment but is also actively involved in the strategic development of the company, the source said.

($1 = 0.9244 euros)

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