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TUI Travel company acquires 9.9% stake in Air Berlin

9-Oct-2009 8:32 AM

TUI Travel stated (08-Oct-2009) its subsidiary company, Leibniz-Service GmbH, will acquire 8.4 million new Air Berlin shares at EUR3.97/share during the month, implementing an agreement entered into on 07-Sep-2009.  Consequently, Leibniz-Service will hold a 9.9% stake in Air Berlin, although the company will reduce its minority shareholding in an "orderly sell down over the course of the next years". Air Berlin will conduct a capital increase of a corresponding amount, thereby realising EUR33.5 million in proceeds. The proceeds from the capital increase will be used for general corporate purposes. [more]