UPDATE: EU OKs Lufthansa To Buy SN Brussels, With Conditions
22 Junho 2009 - 7:34AM
Dow Jones News
The European Commission Monday cleared Lufthansa AG (LHA.XE) to
buy SN Airholding, the parent company of SN Brussels Airlines, with
the condition that the carrier give competitors access to four
routes.
The commission in January launched an in-depth investigation
into the deal, saying it was worried that the combined airlines
"could significantly impede effective competition," particularly
for routes between Belgium and Germany and Belgium and
Switzerland.
To remedy this concern, Lufthansa offered to give other airlines
access to routes between Brussels and Frankfurt, Brussels and
Munich, Brussels and Hamburg and Brussels and Zurich.
"The comprehensive remedies package offered by Lufthansa will
facilitate market entry on the affected routes and thereby create
alternative choices for passengers," the commission's top antitrust
official, Neelie Kroes, said in a statement.
Under the terms of the deal, Lufthansa is paying EUR65 million
to buy 45% of the company, with an option to buy the rest of the
business in 2011.
The commission is still investigating a separate deal where
Lufthansa is planning to buy Austrian Airlines AG (AUA.VI). The
regulator currently has a July 1 deadline to clear the deal or
launch an in-depth probe.
-By Adam Cohen, Dow Jones Newswires; +322 741 1486;
adam.cohen@dowjones.com
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