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Lufthansa Says Kuehne Holds 10% Stake; Largest Shareholder After German Government

   By Ed Frankl 
 

Deutsche Lufthansa AG said Wednesday that Kuehne Aviation GmbH, controlled by logistics tycoon Klaus-Michael Kuehne, now has 10% of the German flag carrier's share capital.

Kuehne has said the investment will help it fulfill strategic objectives, and it doesn't rule out acquiring additional shares or voting rights within the next twelve months, Lufthansa said. Kuehne added that if asked to by Lufthansa it would nominate a candidate for the airline's supervisory board.

Kuehne is looking for a stable capital structure, as well as a "shareholder-friendly dividend policy", Lufthansa said in a regulatory release.

Kuehne is now Lufthansa's second-largest shareholder after the German government, according to Lufthansa's website. Its parent company, Kuehne Holding AG, is also the majority shareholder in logistics firm Kuehne + Nagel International AG and controls 30% of shipping company Hapag-Lloyd AG.

Lufthansa said on April 8 that Kuehne, under its former name KA Logistik Beteiligungen, crossed the 10% threshold.

Lufthansa published the voting rights notification on April 11.

 

Write to Ed Frankl at edward.frankl@dowjones.com

 

(END) Dow Jones Newswires

May 18, 2022 06:02 ET (10:02 GMT)

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