The Air France-KLM Group has finalized the acquisition of a 19.9% non-controlling stake in SAS AB’s share capital. This move, backed by regulatory approvals in Europe and the U.S., is part of a broader strategic initiative to enhance Air France-KLM’s footprint in the Scandinavian market. Accompanying this financial investment, the companies have entered into extensive codeshare and interline agreements set to commence on September 1, 2024, coinciding with SAS joining the SkyTeam alliance. The consortium of investors, which includes Castlelake L.P., Lind Invest ApS, and the Danish State, now holds an 86.4% stake in SAS AB, following a combined investment of $1.2 billion USD. Specific provisions could potentially see Air France-KLM increasing its stake to a controlling level within two years, subject to regulatory and financial conditions.
Aviation, Private Equity, Transportation and Logistics,Denmark, France, Netherlands, United States, Sweden, Norway
https://www.globenewswire.com/news-release/2024/08/28/2936730/0/en/Press-release-Air-France-KLM-completes-acquisition-of-a-non-controlling-stake-in-the-share-capital-of-SAS-AB.html