Air France Buys Stake in Sabena
<i> Reuters</i>
PARIS —
Air France said Sunday it is buying a 37.5% stake in Belgian state airline Sabena SA for $122 million.
The Belgian government separately said it approved the link-up after more than a year of negotiation. Belgian Transport Minister Guy Coeme told a news conference in Brussels that other partners will participate in the deal.
Air France will buy the stake through a Belgian holding company, which will be 67% owned by the French state airline. The remainder will be owned by a group of Belgian investors.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
