Air France Buys Control of UTA: Air...
From Times Staff and Wire Reports
Air France Buys Control of UTA: Air France said it has agreed to acquire a controlling interest in the privately held airline Union de Transports Aeriens in a move that values UTA at almost $1.2 billion (7 billion French francs). Air France, the government-owned airline, said it will initially buy 930,000 UTA shares representing 54.58% of UTA’s capital from Chargeurs SA, a holding company with transportation and textile interests.
