Lufthansa Group has signed an agreement to invest EUR14 million euros (USD14.5 million) in airBaltic (BT, Riga), securing a minority stake in the carrier and a seat on its supervisory board.

In exchange for its investment, the Lufthansa parent will receive a convertible share granting a 10% stake, issued at a subscription price of the above sum and converted into ordinary shares once a planned airBaltic initial public offering (IPO) occurs.

Following the IPO, the final stake size will depend on market…

Source: ch aviation
Read more: Lufthansa Group to acquire minority stake in airBaltic