Financial Times Deutschland: Lufthansa talks with SR Technics may fail -- (Lufthansa plagt sich mit SAir-Tochter)

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Story Filed: Tuesday, April 23, 2002 1:59 PM EST

Apr 23, 2002, (Financial Times Deutschland /FT Information via COMTEX) -- Talks between Lufthansa Technik, the technical services subsidiary of German airline Deutsche Lufthansa, and SAirGroup, the insolvent Swiss aviation group, over the planned acquisition by the German company of maintenance company SR Technics, threaten to collapse. Lufthansa Technik informs that the Swiss group failed to present certain economic data necessary for the calculation of a purchase price, and it is thought by some that the data may have been withheld to prevent the German company from gaining valuable insight into the business of its Swiss rival.

Together, Lufthansa Technik and SR Technics would constitute the world's largest provider of maintenance services for commercial aircraft. SR Technics recently won a maintenance contract with Swiss, the successor to the collapsed airline Swissair (which formed part of SAirGroup). The administrator of SAirGroup declined to inform on whether other parties were interested in bidding for SR Technics.

Original article by Jens Flottau

Abstracted from Financial Times Deutschland