Scandinavian Airlines-SAS (Stockholm) has announced it has received approval from the Danish Competition and Consumer Authority to finish the acquisition of Cimber (Sonderborg). SAS will complete the acquisition and will transfer its 12 Bombardier CRJ900s to Cimber. The airline issued this statement:
SAS is completing the acquisition of Cimber after meeting all of the terms of the transaction, including approval from the Danish Competition and Consumer Authority. SAS has appointed Kent Hansen as the new president of the airline. He will succeed the current president on March 1, 2015.
On December 8, 2014, SAS announced that it had agreed to acquire 100% of the shares in Cimber, that the value of the transaction was MDKK 20 and that the transaction was subject to customary terms including receiving approval from the Danish competition authority.
The Danish Competition and Consumer Authority has notified its approval of SAS’s acquisition of Cimber. In parallel, the remaining terms of the agreement have been met and, accordingly, SAS’s acquisition of Cimber can now be completed.
As previously announced, the acquisition means an opportunity for SAS to transfer production by its 12 Bombardier CRJ900s to Cimber, thereby, allowing more focused and flexible production to be achieved.
The transfer is planned to be completed on March 1, 2015.
Copyright Photo: Rolf Wallner/AirlinersGallery.com. Bombardier CRJ900 (CL-600-2D24) OY-KFI (msn 15242) of SAS taxies at Zurich.
SAS aircraft slide show: