The Luxembourg Ministry of Sustainable Development and Infrastructure says Italian firm Delfin SARL has acquired the 13% stake in Luxair (LG, Luxembourg) formerly held by Lufthansa Group. Owned by the Del Vecchio family, Delfin owns shares in various Italian firms most notably eye-wear specialist Luxottica.
"Delfin, with a view to diversifying its portfolio, found it useful to strategically invest in the Luxair Group which is located in Luxembourg, a "triple A"-rated country, and which believes in its development," Giovanni Giallombardo, Delfin SARL member of the Board of Directors, said. "We are pleased with this acquisition, which I am sure will bring long-term benefits to both companies."
Government, which acquired the shareholding from the Germans in November this year, plans to complete the sale before year-end.
The Luxembourg carrier's other shareholders include Banque et Caisse d’Epargne de l’Etat, Banque Internationale à Luxembourg, and LuxairGroup.
