NATS stake sale finalised

Dino D'Amore
By Dino D'Amore November 27, 2013 16:08

NATS stake sale finalised

Thomas Cook Group and Tui Travel have sold the majority of their shares in the Airline Group, which is a shareholder of UK air traffic controller NATS, to USS (The Universities Superannuation Scheme Limited). USS has acquired a non-controlling stake of 49.9%, while Thomas Cook and Tui have both retained a small shareholding. Lufthansa and Virgin Atlantic are also selling the majority of their stakes in Airline Group on the same terms, but British Airways, easyJet and Monarch Airlines have opted to retain all of their share and loan note interests in Airline Group. NATS has welcomed USS as shareholders and a member of the Airline Group.

“It is testament to the strength of the business that an investment in NATS matches the long-term criteria of the UK’s largest pension fund, with their long-term commitment to provide high quality pensions for the higher education sector,” NATS said in a statement.

Dino D'Amore
By Dino D'Amore November 27, 2013 16:08
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