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Russia's AirUnion to buy Malev for $208 million
01 March 2007
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Malev; AirUnion
AirUnion, the Russian airline alliance, is set to reap the rewards of tenacity in the prolonged race to acquire Malev, Hungary's national carrier.
In a final stage of the investment tender, APV, the Hungarian state holding company, selected AirUnion-affiliated and locally registered firm AirBridge as a preferred bidder after removing its only rival, LAL of Lithuania, from the bidding.
APV short-listed the two contenders in a fresh effort to sell 99.95% of loss-making Malev. This came after several failed privatization attempts, the most recent of which also included a bid from AirBridge.
In a statement confirming AirBridge as the sole partner in the final round of talks, APV indicated that the Lithuanian candidate had provided additional information...
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