London – Alpha Flight Group Ltd (“Alpha”) and LSG Lufthansa Service Holding AG (“LSG”) are delighted to announce that they have obtained final approval from the UK Competition Commission for their planned UK-only joint venture. Following the approval, the parties are now free to implement the joint venture.
The scope of the joint venture, in which Alpha and LSG will be equal partners, will include all existing Alpha and LSG Sky Chefs airline catering, airline retail and ancillary services in the UK, with the exception of Alphas dedicated British Airways operation at London-Gatwick and its Irish operations. The joint venture business will be carried on by a new company with anticipated combined revenues of more than GBP 300 million, in which a subsidiary of Alpha will hold 50% of the shares and a subsidiary of LSG will hold 50% of the shares.
Over the coming months, the parties will finalize the transaction aiming at closing it by mid-year 2012.
Alpha Flight Group Ltd (Alpha) is a leading international flight caterer employing 5,800 staff worldwide. Alpha currently operates in 58 airports in 11 countries, producing over 120,000 meals per day. In 2010, Alphas turnover was GBP 373 million. For further information visit www.alpha-group.com