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| Name | Symbol | Market | Type |
|---|---|---|---|
| Deutsche Lufthansa AG (QX) | USOTC:DLAKY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.08 | 1.15% | 7.02 | 6.87 | 7.07 | 7.05 | 6.97 | 7.00 | 84,552 | 21:14:51 |
From Jun 2023 to Jun 2024
By Adria Calatayud
Deutsche Lufthansa has agreed to sell payments business Lufthansa AirPlus Servicekarten to Sweden's SEB Group for 450 million euros ($491.4 million), both companies said Wednesday.
The German carrier group said the sale follows the recent divestment of its remaining catering business and will allow it to focus on its core business going forward. Lufthansa expects the deal to have a positive effect on its adjusted operating margin and on its adjusted return on capital employed, it said.
SEB said AirPlus is a compelling strategic fit for its SEB Kort payments-services provider and that the deal supports its strategic plans.
The deal is expected to close during the first half of 2024, subject to obtaining relevant external approvals, the companies said.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
June 21, 2023 01:35 ET (05:35 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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