EU Delays Review Of Lufthansa, SN Holding Deal By 15 Days
April 28 2009 - 4:56AM
Dow Jones News
The European Commission Tuesday delayed its antitrust review of
German airline Lufthansa AG's (LHA.XE) bid to control SN Holding
SA, the parent company of SN Brussels Airlines.
The 15-day delay will be used to study "commitments" offered by
the companies, a commission official said without disclosing
details. In airline deals, these commitments typically are offers
to give up landing slots at airports. The commission's deadline to
clear or block the deal is now July 1.
The commission in January launched an in-depth investigation
into the deal after an initial study showed the combined carriers
"could significantly impede effective competition," particularly
for routes between Belgium and Germany and Belgium and
Switzerland.
Under the terms of the deal, Lufthansa will pay EUR65 million to
buy 45% of the company, with an option to buy the rest of the
business in 2011.
-By Adam Cohen, Dow Jones Newswires; +322 741 1486;
adam.cohen@dowjones.com
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