India, Jan. 29 -- Lufthansa Group has entered into an agreement to acquire a convertible share that represents a 10 percent ownership interest in the Latvian state airline airBaltic, which will be issued at a subscription price of 14 million euros. Furthermore, Lufthansa Group will obtain a position on the Supervisory Board of airBaltic.
This convertible share is set to be converted into ordinary shares in the event of a potential initial public offering (IPO) of airBaltic. The exact size of the stake will be determined by the market valuation during the potential IPO, ensuring that Lufthansa Group's share will constitute no less than 5 percent of airBaltic.
This transaction builds upon the existing wet lease agreement between Lufthansa G...