Meridiana (Olbia) has seen the Aga Khan's total shareholding in the company rise from 84.70%, to 96.87%, after one of his two companies involved in the airline - Arly Holdings - recently concluded a successful share buyback drive. In a Milan stock-exchange filing, Arly Holdings said 6'641'322 ordinary shares, or 2.28% of the airline's total share capital, had been acquired. With the voluntary offer having expired on May 2, a payment of EUR0.50 (USD0.67) per share will be issued on May 9.
The Aga Khan's other company, the Aga Khan Fund for Economic Development (AKFED), already owns 84.70 percent of Meridiana Spa.
With the conclusion of the deal, Meridiana will cease "to be an issuer of publically-traded financial instruments with effect from December 31."
Earlier this year, the Aga Khan Foundation (Geneva) said control of the airline would grant it greater strategic and operational flexibility and also would also open the door to possible tie-ups with other international carriers.
