10-Sep-2010 9:55 AM

Finnair signs agreement on corporate transaction with Finncomm Oy

Finnair Plc and Finncomm Oy announced (09-Sep-2010) it has signed a preliminary agreement on 08-Sep-2010, firstly for the purchase of a 20% minority interest in Finnish Commuter Airlines Oy (FCA) and, secondly, on the acquisition of the entire share stock of the companies that own the Finncomm Group's 12 ATR aircraft. The purchase price for the aircraft companies is a preliminary EUR38 million, including debt. The purchase price of 20% of FCA is a preliminary EUR10 million, including debt, which takes into account the possibility of increasing ownership in FCA at a later date. Negotiations between the parties on the detailed conditions of the transaction are underway. [more - Finnair]

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