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Etihad says agreed principal terms to buy 49 pct of Alitalia
June 25, 2014 / 8:26 AM / 3 years ago

Etihad says agreed principal terms to buy 49 pct of Alitalia

ABU DHABI, June 25 (Reuters) - Abu Dhabi’s state-owned Etihad Airways said on Wednesday that it had agreed principal terms and conditions to buy a 49 percent equity stake in Italy’s Alitalia.

The two airlines will now finalise the deal as soon as possible, subject to regulatory approvals, Etihad added in a brief statement. It did not elaborate on the terms of the deal.

The board of troubled Alitalia voted on June 13 to accept an offer by Etihad to invest in the company, but did not give details. Italy’s transport minister has said Etihad is prepared to invest up to 1.25 billion euros ($1.70 billion) over the next four years. (Reporting by Stanley Carvalho, Writing by Andrew Torchia. Editing by Jane Merriman)

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