The MSC group has expressed its interest in acquiring a majority stake in Ita Airways to the Italian government. The group, specifies a note, “has the objective of creating a partnership with the Italian government and the Lufthansa company as the industrial partner of the project”. Lufthansa has already expressed its interest in taking part in the initiative. The interest of the MSC group derives «from the possibility of activating positive synergies for both companies in both the cargo and passenger sectors in which the group is a global leader. MSC and Lufthansa, following today’s expression of interest, require an exclusivity period of 90 working days and subject to regulatory approvals and due diligence “.
Msc and Lufthansa: Italian government maintains participation
Ita Airways confirms that it has received the expression of interest from the MSC group and Lufthansa to acquire the majority of the company. The MSC group has agreed with Lufthansa its participation in the partnership on terms to be defined during the due diligence. Both the MSC group and Lufthansa have expressed the desire that the Italian government retain a minority stake in the company. The Ita board of directors will examine the details of the expression of interest itself at a forthcoming meeting ”.
Aponte family group
MSC (Mediterranean Shipping Company) is a shipping company active in the shipping and logistics sector. Founded in 1970 and headquartered in Geneva, Switzerland, it is controlled by the Aponte family. The group also includes MSC Cruises, Grandi Navi Veloci and Snav.
Meanwhile, confirmation arrives from Brussels that Lufthansa is free to buy shares in other companies, because it has returned over 75% of the state aid received during the Covid crisis. This is the position of the EU Commission, reported by a spokesperson, in response to a question about the rumors of a possible acquisition of a stake in Ita Airways. The Brussels spokeswoman did not comment on the Ita hypothesis, but specified that according to EU rules the ban on acquisitions for the German carrier is lifted.
In the running are Germans and Air France-KLM
Lufthansa is one of the claimants to the alliance with Ita, which the executive president of the company, Alfredo Altavilla, wants to have an equity implication. According to various sources, the Germans are the favorites. But there is the Air France-KLM alternative, together with the American partner Delta Air Lines. A few days ago Ed Bastian, CEO of Delta, however, said that an acquisition of Ita “is not in the plans” of the Atlanta company. Basically, the final phase of the negotiations should be played with these two counterparts. According to Altavilla, the choice of partner could be made by June.