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© Reuters. FILE PHOTO: Airplanes of German service Lufthansa are parked on the Berlin Schoenefeld airport, amid the unfold of the coronavirus illness (COVID-19) in Schoenefeld, Germany, Might 26, 2020. REUTERS/Fabrizio Bensch/File Photograph
ZURICH (Reuters) – German logistics entrepreneur Klaus-Michael Kuehne has elevated his stake in Germany’s flag service Lufthansa to 10%, Kuehne Holding AG stated in a press release on Monday.
Kuehne, 84, had earlier boosted his stake in Lufthansa to five% a couple of month in the past, changing into the airline’s second-biggest shareholder behind the German authorities, in response to Refinitiv knowledge.
Kuehne Holding AG has acquired a stake of 10% in Deutsche Lufthansa AG (OTC:) in the marketplace through an entirely owned German subsidiary, the holding firm owned by Klaus-Michael Kuehne stated.
“The funding in Deutsche Lufthansa (DE:) represents a superb rounding off of the present portfolio, wherein logistical knowhow is bundled by means of varied unbiased holdings,” Kuehne was quoted as saying within the assertion.
The German billionaire can also be the controlling shareholder of Swiss logistics agency Kuehne & Nagel and has a 30% stake in container delivery firm Hapag-Lloyd AG.
Lufthansa stated final week it had signed a revolving credit score facility of two.0 billion euros ($2.18 billion) with a syndicate of worldwide relationship banks to spice up its liquidity.
($1 = 0.9189 euros)
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