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Air Berlin to acquire charter carrier LTU

27 March 2007

German airline Air Berlin said on Tuesday it had agreed to buy charter carrier LTU. The purchase price for the 100 percent participation in LTU is 140 million euros ($185.8 million), Air Berlin said in a stamenent.

The agreement is subject to the approval of the Federal Cartel Office. The acquisition will be financed through the issuance of new shares and convertible bonds in an expected total amount of about 250 million euros.

source: Reuters

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