Lithuania’s LAL reportedly to allocate up to EUR 120mn for Malev’s acquisition.

Lithuania’s LAL reportedly to allocate up to EUR 120mn for Malev’s acquisition. Lithuania’s LAL would allocate some EUR 120mn for the acquisition of national airline Malev, according to representative of investment company Zia valde quoted by local daily Lietuvos Rystas and related by MTI News Agency . According to him the cost of the project, including further financial investments and takeover of state-guaranteed debt, was likely to reach some LTL 380-414mn (EUR 110-120mn). We note that Zia valde is one of the 3 main shareholders in LAL along with electronic solution company Fimainvetsment and logistics company Sanitex. Total of 4 bidders submitted offers in the tender for 99.95% stake in Malev. The other participants in the race are AirBridge Magyarorszag (a Hungarian-based company controlled by Russian businessman Boris Abramovich, who also owns Russian airline KrasAir), Sky Alliance (controlled by a group of former and current Malev pilots as well as some former members of the management) and businessman Ofer Hava with the backing and guarantees of several Hungarian and Irish investors.