Lufthansa applies with Austrian Takeover Commission to prolong deadline for merger with Austrian Airlines
Suspensive conditions not fulfilled by 31 July 2009
The European Commission has not yet approved anti-trust immunity for the planned merger of Lufthansa and Austrian Airlines. Under the terms of Lufthansa´s public takeover offer, completion of the transaction is subject, inter alia, to the suspensive conditions precedent to anti-trust immunity and the approval by the EU commission of 500 million euros in restructuring aid. Currently the takeover offer foresees that these conditions have to be fulfilled by 31 July 2009.
Since it became apparent that a resilient agreement with the European Commission can be reached, but the formal approval cannot be obtained in due time, Lufthansa in agreement with Österreichischen Industrieholding AG (ÖiAG) has filed an application with the Austrian Takeover Commission, to prolong the deadline to 31 August 2009 for the fulfilment of the suspensive conditions precedent.
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