Saudi investor eyes $223m Austrian Air stake
Vienna, February 2, 2008
Saudi Arabian investor Mohamed Bin Issa Al Jaber plans to buy a stake in Austrian Airlines worth 150 million euros ($223 million), the airline operator said.
'Intensive negotiations are currently underway,' Austrian said in a statement, adding no decisions had been taken yet.
Austria's state holding company OeIAG currently holds just under 40 per cent of the airline.
'A strategic investment of this nature would be to support the expansion strategy of Austrian Airlines in the Middle East,' Austrian said.-Reuters