Air-France KLM Cuts Amadeus Stake to 2.2% in Hedging Deal
26 Novembro 2014 - 5:00AM
Dow Jones News
By Ruth Bender
PARIS--Air France-KLM (AF.FR) Wednesday said it is selling part
of its stake in Spain's Amadeus IT Holding related to a hedging
deal, leaving the airline with a stake of around 2.2% in the
company.
Air France-KLM said it is selling 6.2 million shares, or around
1.4% of its capital, in Amadeus in an institutional private
placement via Deutsche Bank as part of the company's risk
management strategy.
"This transaction will allow the group to protect the value of
these shares, while continuing to benefit from the potential upside
on the price of its remaining shares," Air France said in a
statement.
The Franco-Dutch airline said it has agreed on a 30-day lock-up
on its remaining stake.
-Write to Ruth Bender at ruth.bender@wsj.com
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