Lufthansa, IAG sign purchase agreement for BMI

Deutsche Lufthansa AG (Lufthansa) and International Airlines Group (IAG) have signed a binding agreement for the sale of British Midland Limited (bmi) to IAG. The price is approximately 207 million euro in cash, subject to certain reductions. Both parties aim for a closing of the transaction by the end of the first quarter 2012. The sale remains subject in particular to competition clearance. (