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Article: Germany: Air Berlin, TUI Travel Sign Cooperation Agreement.
- Article from:
- TendersInfo
- Article date:
- March 30, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: kusumv03
Discount airline Air Berlin PLC (AB1.XE) said Friday it has signed a strategic cooperation agreement with the TUI Travel PLC (TT.LN) and their affiliated companies with respect to a strategic cooperation regarding the German aviation business.
After the agreement of both boards, Air Berlin PLC and TUI Travel PLC, and the supervisory boards of the affiliated companies, the transaction contains the following substantial elements:
A group member company of TUI Travel PLC participates in Air Berlin PLC with a minority interest which will not exceed 20%. The participation is acquired by way of a subscription to 16,326,721 new shares ...