ITA Airways: two in the data room
Msc-Lufthansa and Certares Fund are already inside, binding offers within end of May
Two of the three parties interested in buying the national airline ITA Airways accessed the airline's data room yesterday. The two are: the US Certares Fund in partnership with the carriers Air France-Klm and Delta Air Lines; the consortium formed by the Italian shipowner Msc and the German company Lufthansa. The move of the Indigo Partners fund is awaited.
This is reported by the italian newspaper "Il Corriere della Sera", which cites ministerial sources. Inside the data room interested parties will be able to view confidential documents that allow they to assess the company's performance, helping to calibrate the binding purchase offer. The time for the presentation expires at the end of May.
The proposal of Mediterranean Shipping Company (Msc) and Lufthansa is currently considered the best (1.2-1.4 billion euros). However, according to rumors Certares is leaning on the Elliott fund to strengthen its current proposal (650-700 million euros). Indigo Partners, on the other hand, has not yet signed all the documents necessary to enter the data room.
On the same subject see also the article published by AVIONEWS.
AVIONEWS - World Aeronautical Press Agency