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[Article] French state to halve Air France-KLM stake

09-12-2004 9:43pm

#1

Victor

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http://www.rte.ie/business/2004/1209/airfrance.html

French state to halve airline stake

December 09, 2004 14:18
The French government is to sell part of its 44% stake in Air France-KLM, the recently merged airline group.

The government is to sell 17.7% of the airline for nearly €700m, Dutch bank ABN Amro said. ABN Amro and French bank Societe Generale are handling the sale.

Investors will be invited to bid on the shares and the banks will place the shares on the market based on the best offers.

According to ABN Amro, the sale will involve a total 18.4% of the capital owned, or 49.48 million shares. In addition to the 17.7% placed on the market, 0.7% will be reserved for Air France-KLM employees.

Following the sale, the French state's stake in the airline is expected to be reduced to about 25.6%.

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