Germany raised 760 million euros ($760 million) from the sale of a stake in Lufthansa, Germany, to completely dispose of the holdings it acquired to keep the leading airline running during the lockdown measures that accompanied the coronavirus pandemic.
The Economic Stability Finance Fund has sold its remaining 9.92 percent stake in Europe's largest airline through an accelerated registration process for potential institutional investors, according to a statement issued late on Tuesday.
The total €1.07 billion in proceeds generated for the Fund from the sale of its stake significantly exceeds €306 million invested in the €760 million acquisition deal."
Among the buyers was perhaps Germany's richest man, following his statement that he wanted to acquire more shares of Europe's largest airline. Klaus Michael Cohen aspires to increase his stake, which stands at around 15 percent, according to last week's filing file, after investing a huge amount of wealth he amassed from the airline's logistics sector.
