SAS sells BMI to Lufthansa

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SAS sells its entire stake in BMI to Lufthansa.

SAS Group sells its 20 percent of the airline British Midland, BMI to the holding company LHBD. LBDH already owns 80 percent of the airline. LHBD on the other hand is owned 35 percent by Lufthansa.

The price for the shares is approximately 19 million pounds. In addition, Lufthansa pays an additional 19 million pounds to SAS for SAS termination of rights under the shareholders agreement of 1999. In total SAS will receive 38 million pounds in cash, resulting in a capital gain of about 420 million swedish crowns