Luxembourg's Infrastructure Minister Francois Bausch has confirmed local media reports that Lufthansa (LH, Frankfurt International) is looking to dispose of its 13% stake in Luxair (LG, Luxembourg).
Speaking before the country's parliament on Wednesday, Bausch said he had indeed received a letter from the German carrier stating its intention to sell. According to Luxembourg's Wort newspaper, Lufthansa is in the process of reorganising its portfolio and is looking to sell its stake given that it does not hold any real influence.
As such, Lufthansa has also been in touch with Luxair's other shareholders which include Banque et Caisse d’Epargne de l’Etat, Banque Internationale à Luxembourg, LuxairGroup and others over its possible exit.
Lufthansa acquired the stake in 1992 holding an option for an additional 10% equity.
