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UPDATE 3- Air France and KLM approve merger.
Publication: Europe Intelligence Wire Publication Date: 30-SEP-03 |
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COPYRIGHT 2003 Financial Times Ltd.
(From FT Investor (Stories))
Air France said on Tuesday it had entered an agreement with KLM in a deal that would create the biggest force in the European airline industry.
The deal values the common share capital of the Dutch carrier at [euro]784m with the French carrier saying it would pay 11 of its shares and 10 warrants for 10 KLM shares. This values the Dutch airline at about [euro]16.74 per share.
The French government's stake in the new group would be cut from 54 per cent to 44 per cent....
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