Austrian Airlines AG will, along with its biggest shareholder Deutsche Lufthansa AG, buy out its remaining stakeholders, offering them 50 euro cents a share (about 75 U.S. cents).
Lufthansa, which already owns 95.4 percent of the shares in Austrian Airlines through OLH Osterreichische Luftverkehrs-Holding-GmbH, said in a statement Friday that the offer still needs aproval from its board of directors.
A meeting to decide to move forward with the buyout is set for later this year. If approved, the remaining shareholders in Austrian will receive payment in the first half of 2010.
Lufthansa's shares were trading up 1.4 percent at ⁈($17.42) per share in morning trading in Frankfurt trading.
