Key shareholder group in Austrian Airlines supports Saudi participation - report
Key shareholder group in Austrian Airlines supports Saudi participation - report |
Airline Code [DHI]
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According to the newspaper, the group of Austrian banks and insurance companies that jointly hold a 7.25 pct stake in AUA is backing Sheikh Mohammed Bin Issa Al Jaber's plans to invest up to 150 mln eur in the airline. Citing unspecified sources, WirtschaftsBlatt reported that the group supports a stake-build by Al Jaber because it would allow some of the group's members to sell their holdings in AUA without diluting the national majority in the airline's shareholder structure. The institutional investors currently ensure that the carrier's shareholder structure has an Austrian majority -- as required for international air rights agreements -- by participating in a syndicate managed by the country's state industrial holding (OIAG), which holds a 42.75 pct stake. Al Jaber holds Austrian citizenship and owns a range of hotels in Vienna as part of his corporate group JJW Hotels & Resorts. Date posted: 14-Feb-08 |
