The Turkish industrial and financial group ESAS Holding, which operates Pegasus Airlines, has concluded a share purchase agreement for the acquisition of 15.3% of the voting shares of Air Berlin. According to ESAS Holding, the execution of the share purchase agreement is subject to the approval of the German Federal Cartel Office. ESAS will be represented on the board of Air Berlin with one non-executive director.
With this share purchase agreement, Air Berlin has obtained a second new major shareholder, after, on 27 March 2009, a subsidiary of TUI Travel acquired a minority interest not exceeding 20%, in the company. ESAS Holding now holds the majority of the equity stake previously owned by Len Blavatnik. At the beginning of January, Blavatnik had notified Air Berlin that he had sold his shares.
ESAS Holding combines the business activities of the Sabanci family, Ali Sabanci being the chairman of Pegasus. In 2008, the holding generated approximately €445 million (1.1 billion Turkish lira), with more than 3,300 employees.
The DoD has changed its structures and is been increasing efforts to facilitate access to loans by companies interested in working with artificial intelligence, advanced materials and semiconductors, biotechnology and quantum science.
India has approved millions of dollars in new military purchases, most of which will go to public sector companies.
The main obstacles to overcoming risks in the region are a lack of a strong cybersecurity culture and inadequate funds to invest in this domain given a widespread Chinese presence in the region.
MBDA is adapting to supply chain pressures as the Russian invasion of Ukraine leads to increased demand for armaments.
Despite the additional funding promised this week, the UK armed forces still look set to face cutbacks, and maintaining international commitments to AUKUS and GCAP may limit the options for other programmes.
This week on the Shephard Defence Podcast, senior naval reporter Harry Lye and military training & simulation reporter Norbert Neumann chat with Professor John Louth.
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