Squeeze-out gives Lufthansa 100% of Swiss Air shares
Through their negotiating unit Air Trust AG, Lufthansa and the Almea Foundation now hold 100 percent of Swiss International Air Lines Ltd.’s shares, following the successful conclusion of a squeeze-out procedure begun in August last year.
The Basel-Stadt Civil Court approved the submission by AirTrust to declare any outstanding SWISS shares invalid. The concerned shareholders will receive CHF 8.96 ($6.97) per share as paid to shareholders who offered their SWISS shares for sale to AirTrust AG during the public purchase offer period.
Lufthansa holds 49 percent of AirTrust, with the Almea Foundation holding the remaining 51 percent. The Almea Foundation will be dissolved and transfer its interests in SWISS to Lufthansa once the German airline secures traffic rights and relevant agreements, estimated at the end of 2006 at the earliest.
SWISS shares will be delisted from the SWX Swiss stock exchange Jan. 27.
Squeeze-out gives Lufthansa 100% of Swiss Air shares
