Lufthansa to sell rest of LSG Group to private equity firm Aurelius
Deutsche Lufthansa said that it would sell the remaining part of airline caterer LSG Group to private equity firm Aurelius, three years after it first put the business up for sale.
The German flagship carrier hopes the move will allow it to focus more on its core airline business, with chief financial officer Remco Steenbergen saying profitability and capital returns could improve further in that area as a result.
The company said it expects the deal to positively impact its operating margin and adjusted ROCE.
The transaction is expected to close in the third quarter, Lufthansa and Aurelius said. They did not give details on the sale price.
Lufthansa decided to divest LSG Sky Chefs in 2019. Its activities in Europe were sold at the end of that year to the Swiss company Gategroup for 1.1 billion euros ($1.20 billion).
However, the pandemic delayed the sale of the remaining parts of the business.
Related news
Haleon to sell nicotine replacement therapy business outside US for $633 mln
Haleon will sell its nicotine replacement therapy business outside the…
Read more >Lufthansa’s profit almost doubled last year
Last year’s after-tax profit of the German airline Deutsche Lufthansa…
Read more >Lufthansa workers are on strike again, flight cancellations are expected
Lufthansa’s ground staff are on a warning strike from Thursday…
Read more >Related news
VOSZ Barometer – 2024. II. quarter: mandatory optimism or real growth?
The perception of inflation is still present in domestic companies,…
Read more >Fidelity: Three themes shaping investments in Q3
Has the post-epidemic normalization that we have been waiting for…
Read more >Auchan has appointed a new product director
From July 1, László Varga will perform the duties of…
Read more >