PropsAreForBoats
21st May 2001, 18:32
Announced today:
SAS buys KLMs and the Braathen-familys shares in Braathens ASA; a total of 69%, for 35 NOK per share. Other shareholders will receive the same offer from SAS.
CEO of Braathens Arne A. Jensen states that this solution was the only way for Braathens to survive; after a long period of operating with heavy losses.
It is the intention of SAS to continue Braathens operation as a independent company with its own identity and current organisation. The take-over does not include Braathens' swedish operation, which will be sold out.
The take-over will happen during this fall, when SAS has acheived minimum 90% of shares and governmental approval.
Source: www.aftenposten.no (http://www.aftenposten.no)
SAS buys KLMs and the Braathen-familys shares in Braathens ASA; a total of 69%, for 35 NOK per share. Other shareholders will receive the same offer from SAS.
CEO of Braathens Arne A. Jensen states that this solution was the only way for Braathens to survive; after a long period of operating with heavy losses.
It is the intention of SAS to continue Braathens operation as a independent company with its own identity and current organisation. The take-over does not include Braathens' swedish operation, which will be sold out.
The take-over will happen during this fall, when SAS has acheived minimum 90% of shares and governmental approval.
Source: www.aftenposten.no (http://www.aftenposten.no)