Deal is done and announcement just made.
The direct obligation for Lufthansa to acquire bmi has been annulled by Lufthansa paying £175m to cancel it. A new UK holding company, presently 35% owned by Lufthansa, will then acquire bmi for £48m. Formal announcement has just gone out.
£175m going in as the required cash injection to satisfy financial fitness going forward.
Re earlier posts - AMS is supposedly being stopped from the end of the summer. Nothing heard specifically about PMI and VCE.