Condor take-over called off
London/Berlin (euro adhoc) -
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cooperations/joint ventures/collaboration
Air Berlin PLC and Thomas Cook Group PLC informed the German Federal Cartel Office on Friday about the withdrawal of the application to acquire Condor Flugdienst GmbH by Air Berlin. The September 2007 contract for acquiring Condor in the course of a share swap was cancelled by mutual agreement. Both companies have agreed to continue negotiations regarding the feasibility of alternative solutions. Both Air Berlin and Thomas Cook are interested in exploring other options. In a written communication to the Federal Cartel Office, both parties cited the significantly changed economic framework conditions since the contract was concluded - the price of kerosene alone has more than doubled in the meantime - as the main reason for withdrawing the application. At present, the parties involved intend to continue their discussions, without being subjected to time pressure.
end of announcement euro adhoc
Further inquiry note:
Peter Hauptvogel
Director Corporate Communications Air Berlin
phone: +49 30 3434 1500
fax: +49 30 3434 1509
e-mail: abpresse@airberlin.com
Branche: Air Transport
ISIN: GB00B128C026
WKN: AB1000
Index: SDAX, Classic All Share, Prime All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade