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Lithuania's LAL to offer €120 mln for Malév

An indirect owner of Lithuanian airline LAL would offer €120 million for Hungarian airline Malév Zrt, Gediminas Ziemelis, representative of Lithuanian investment company Zia valde, told Lithuanian daily Lietuvos Rystas on Friday.

”We have offered to make further financial investments in the company and take over a share of funds guaranteed by the state. The total value of the project would reach 380-414 million litas (110 million-€120 million) in one or two years,” Ziemelis told the daily.
The State Privatization and Holding (ÁPV) Zrt announced the tender for a 99.5% stake in Malév on September 7. LAL is owned by investment group LAL investiciju valdymas, whose three main shareholders are IT company FIMA, investment company Zia valda and logistics company Sanitex.
The bidders in the current Malév tender are AirBridge Magyarország Zrt, which is controlled by Boris Abramovich, the owner of Russian airline KrassAir; LAL investiciju valdymas; the businessman Ofer Hava, backed by a group of Hungarian and Irish investors; and Sky Alliance Zrt, a company set up by former and current Malév pilots. (MTI)