Lufthansa Pension Trust sells 3% shares in Amadeus

Lufthansa Pension Trust has successfully placed approximately 13.5m shares of Amadeus IT Holding, S.A. by way of an institutional private placement. With the sale of the shares, which represents 3% of the shares in Amadeus IT Holding, S.A., the pension fund raised gross proceeds of €388m. Accordingly, the Lufthansa Pension Trust’s stake in Amadeus will be reduced from four per cent to approximately one per cent. To facilitate this transaction, Lufthansa Pension Trust has agreed to a lock up period of 90 days for its remaining stake. The co-shareholder Air France Finance has committed to a lock up period of 30 days regarding its shares of Amadeus IT Holding, S.A. The disposal of the Amadeus shares is a portfolio management transaction by the pension fund to ensure a balanced asset allocation. In November 2012, as part of the active management of its holdings, Lufthansa transferred a 4% stake in Amadeus IT Holding, S.A. to Lufthansa Pension Trust and furthermore sold 3.61% of the shares of Amadeus IT Holding, S.A. With the sale of the shares, Lufthansa Group generated gross proceeds of €307m in 2012.