September 9, 2014 / 7:31 PM / 5 years ago

Air France to reap 339 million euros in cash from Amadeus shares

An Air France Airbus A319 passenger jet makes its way on the tarmac before taking off at Orly airport, near Paris, August 5 2014. REUTERS/Charles Platiau

PARIS (Reuters) - Air France-KLM (AIRF.PA) said on Tuesday it would reap proceeds of 339 million euros ($438 million) in cash from the sale of a more-than 3-percent stake in travel technology company Amadeus (AMA.MC).

The Franco-Dutch airline said it had settled a derivatives transaction on 12 million Amadeus shares, or a 2.68 percent stake, by selling part of that holding. The airline did not say how much of the holding it sold.

It is also selling a 1 percent stake in Amadeus via an accelerated private placement for which Societe Generale is acting as the sole bookrunner.

These operations will leave Air France-KLM with an Amadeus holding of around 4.4 percent, the airline said in a statement.

Reporting by Natalie Huet; editing by Keiron Henderson

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