CIMBER IN DEAL WITH UKRANIAN BILLIONAIRE

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By TESTCustomwebLP TESTCustomwebLP June 17, 2011 13:24

CIMBER IN DEAL WITH UKRANIAN BILLIONAIRE

Danish airline Cimber Sterling is reported to be finalising a DKK165 million ($31.28 million) deal with a Ukrainian billionaire to help create a regional Nordic airline. Cimber confirmed it had agreed a preliminary deal with Cyprus-based Mansvell Enterprises yesterday. The company is 75% -owned by Ukrainian businessman Igor Kolomoisky, who already owns two regional Swedish airlines.

“The aim is to create a strong Nordic airline,” Cimber Sterling’s chairman Vilhelm Hahn-Petersen said in a statement. “It would be a company with a strong position in Denmark and Sweden to begin with. I feel very convinced that they are pretty aggressive in their strategy.”

Cimber said Mansvell could become its majority shareholder with a stake of about 66.7%.  It aims to finalise the deal, which would see Manville buy 110,000,000 shares at 1.50 crowns each, by the end of this month and obtain approval from shareholders by the end of July.

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By TESTCustomwebLP TESTCustomwebLP June 17, 2011 13:24
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