Now it’s clear: Lufthansa wants to buy ITA Airways. However, the German group is not tackling the project alone, but with a large partner of Italian origin.
The mill of rumors has been buzzing for some time now. Over the weekend, the pot containing Lufthansa and ITA boiled over. Several Italian media reported unanimously that Lufthansa was looking to buy up to 40 percent of the new Italian national airline.
Now it’s official — and it’s not just about the minority stake. ITA Airways announced on Monday evening (January 24) that Lufthansa Group has submitted an expression of interest to buy a majority stake. However, the German group is not planning the acquisition alone, but is working closely with MSC Group. The shipping giant is based in Geneva, with a fleet of 570 ships and 100,000 employees worldwide.
Supervisory Board to decide soon
« MSC Group has agreed to partner with Lufthansa on terms set out during due diligence [vertieften Prüfung der Bücher] be determined,” the ITA statement said. Both the shipping giant and the airline group have expressed a desire for the Italian government to retain a minority stake in the airline. In addition, he has asked for 90 days of exclusivity to develop a concrete plan.
“The Supervisory Board will examine the details of the expression of interest at one of the next meetings,” the statement continues. However, one is sure that following the acquisition processes, a successful and viable company will result. The ITA meeting will be held on January 31.
MSC Group has Italian roots
MSC Group is a huge corporation. It has both cargo and cruise divisions. Although based in Geneva, his DNA is Italian. It was founded in 1970 in Naples by Gianluigi Aponte. The Italian and the ship’s captain are still part of the company’s top management – just like his son Diego.
