April 10, 2019 / 2:17 PM / 5 months ago

Lufthansa takes first formal step toward selling catering unit

FILE PHOTO: A view of an office building of German airline Lufthansa in Frankfurt, Germany March 14, 2019. REUTERS/Ralph Orlowski/File Photo

BERLIN (Reuters) - Germany’s Lufthansa has made the first formal step toward selling its catering unit LSG, a company spokesman said on Wednesday.

“With this step, potential investors are being invited to make their bids,” the spokesman said, adding that Lufthansa planned to sell its unit to a strategic investor in the catering sector.

Austria’s Do&Co and Switzerland’s Gategroup are expected to make offers for the European LSG operations, people familiar with the matter said in March.

Lufthansa’s LSG unit employs 35,000 staff and generated revenues of 3.2 billion euros last year.

Reporting by Ilona Wissenbach, writing by Tassilo Hummel, editing by Thomas Escritt

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