German State Fund to Offload Up to 5% Stake in Lufthansa
August 16 2021 - 3:00AM
Dow Jones News
By Cecilia Butini
The German finance agency said Monday that the economic
stabilization fund put in place to keep Deutsche Lufthansa AG
afloat amid the pandemic is decreasing its shareholding in the
company.
The fund, which held a 20% stake in Lufthansa, is set to reduce
its participation by up to a quarter, or a 5% stake, beginning on
Monday, the finance agency said. The reduction will take place over
several weeks.
The decision was made as a result of the success of Lufthansa's
measures to face the crisis, the agency said.
The fund negotiated a stabilization package with Lufthansa for
up to 6 billion euros ($7.08 billion) in June 2020. In total,
Lufthansa received EUR9 billion in state aid to weather the
crisis.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
August 16, 2021 02:52 ET (06:52 GMT)
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