Air France KLM yesterday announced that it completed the acquisition of a 25% stake in Alitalia through a reserved share subscription worth approximately €323 million ($439.1 million). Its partnership with the restructured Italian carrier was announced in January but required approval from competition authorities. At that time, AZ said AF KLM would be entitled to nominate three of the 19 members of the board and two members of the executive committee. AF KLM said yesterday that the stake grants it “greater access to the Italian market thanks to Alitalia which, following its acquisition of Air One, has reinforced its position on the domestic market.”
(ATW)