(AOF) – Air France-KLM has been selected as part of the financing solicitation process launched by the Scandinavian company SAS. Air France-KLM’s investment would represent a total of 144.5 million US dollars, including 109.5 million invested in ordinary shares and 35 million in guaranteed convertible bonds. Following the transaction, Air France-KLM would hold a minority stake of a maximum of 19.9% in the share capital of SAS AB.
Benjamin Smith, CEO of the Air France-KLM Group, declared: “We are pleased to be part of the consortium selected by the SAS board of directors.” For him, “this cooperation would allow Air France-KLM to strengthen its presence in the Nordic countries and improve connectivity in this region for the benefit of Scandinavian and European travelers.
The Consortium’s investment proposal remains to be finalized and is subject to certain conditions precedent and regulatory approvals, including in particular the approval of the European Commission, the US court overseeing the Chapter 11 reorganization and, with respect to SAS AB, from the Swedish court.