Italian government approves Alitalia sale to CAI
November 20th, 2008 | by sergio |The Italian government has agreed to sell Alitalia’s assets to a group of Italian businessmen (CAI) for EUR1.052 billion euros (USD$1.33 billion).
CAI — or Compagnia Aerea Italiana — had initially bid EUR275 million (USD$347.2 million) for Alitalia’s flight operations and EUR100 million in a mix of cash and debt for other units, and would take on further debt of EUR625 million.
The government did not specify how the EUR1.052 billion offer would be split between cash and debt.
The deal comes after a failed take over by Air France-KLM.
