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Mohamed Bin Issa Al Jaber announces interest in strategic investment in Austrian Airlines

Mohamed Bin Issa Al Jaber announces interest in strategic investment in Austrian Airlines
Mohamed Bin Issa Al Jaber, Austrian Saudi-Arabian businessman and owner of hotels in Vienna (including the recently opened luxury hotel ‘The Ring’), has announced his interest in acquiring a strategic participation for approximately EUR 150 million in Austrian Airlines AG. Intensive negotiations are currently underway, although no resolutions have yet been passed.

The Management Board will provide the Supervisory Board with comprehensive details of the situation at the next Supervisory Board meeting on 12 March 2008. Such investment could be realized by way of shareholders resolution on a capital increase excluding the subscription rights. One precondition for such an investment is the safe-guarding of an Austrian majority within the syndicate managed by IAG.

A strategic investment of this nature would be to support the expansion strategy of Austrian Airlines AG in the Middle East.

At the same time, the companies will strive to conclude a cooperation agreement in the tourist sector, where the corporate group JJW Hotels & Resorts, belonging to the investor, is active.

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