ESAS Holding AS acquires 15 percent stake in Air Berlin
Tags :
Continental Europe,
Air Berlin,
Pegasus Airlines
On 29-Mar-09, Air Berlin PLC was informed that the Turkish ESAS Holding AS which, inter alia, operates Pegasus Airlines, on 28-Mar-09, concluded a share purchase agreement for the acquisition of approximately 15% of the voting shares of Air Berlin PLC.
According to ESAS Holding, the execution of the share purchase agreement is subject to the approval of the German Federal Cartel Office. ESAS Holding AS will be represented on the Board of Air Berlin PLC with one Non-Executive Director.
With this share purchase agreement, Air Berlin PLC, Germany's second largest airline and the fifth-largest airline in Europe, has obtained a second new major shareholder, after, on 27-Mar-09, a subsidiary of TUI Travel PLC had already acquired a minority interest not exceeding 20 percent, in the company. ESAS Holding AS now holds the majority of the equity stake previously owned by Len Blavatnik. At the beginning of January, Blavatnik had notified Air Berlin PLC that he had sold his shares.
(c) Centre for Asia Pacific Aviation. Date posted: 30-Mar-09
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ESAS Holding AS acquires 15 percent stake in Air Berlin 
