MADRID Nov 13 German airline Lufthansa
and Air France-KLM will reduce their stakes
in Spanish travel technology company Amadeus IT Holding SA
by selling 5.28 percent of the company's share capital.
Lufthansa will sell around 16 million Amadeus shares,
equivalent to 3.61 percent of the company, sole bookrunner HSBC
said in a statement on Tuesday.
Air France-KLM said Societe Generale would sell
1.66 percent of Amadeus' share capital after the airline entered
into a hedging transaction with Societe Generale to protect the
value of 12 million Amadeus shares - 2.68 percent of the
Lufthansa and Air France are the biggest shareholders in
Amadeus, with stakes of 7.6 percent and 7.3 percent
respectively, while 83 percent of the company's share capital is
"This transaction is part of Air France-KLM's asset and
risk management strategy. Air France-KLM continues to support
Amadeus management's strategy," Air France said in the
Lufthansa, Air France and Iberia, which holds 0.84
percent of Amadeus, have agreed to a lock-up period of 90 days,
HSBC said in a statement to the Spanish stock market regulator.
Amadeus, which provides technology to travel and tourism
firms, reported a 8.4 percent increase in nine-month revenue
Lufthansa intends to transfer the rest of its stake in
Amadeus to its pension subsidiary, HSBC said.