Lufthansa settles row over bmi purchase

[Nigelinoz]

Lufthansa settles row over bmi purchase - Times Online

Lufthansa has struck a new agreement to buy bmi from Sir Michael Bishop, the British airline's majority shareholder.
Sir Michael took the German flag carrier to the High Court last month in an attempt to force Lufthansa to exercise an option that it had to buy out his stake in bmi.
Both parties said today that they had reached an out-of-court settlement of their dispute surrounding the transaction.
Lufthansa will pay Sir Michael £175 million to cancel a “put” option that would have forced Lufthansa to buy directly a stake of 50 per cent plus one share in bmi.

A third company, LHBD Holding, which is based in Britain, will buy the stake for about £48 million, while Lufthansa acquires 35 per cent of the shares in LHBD

[simongr]

EXcellent - now I should get my status match to HON/SEN or whatever the equivalent is...