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New Deal


Announced

PGL terminates the $328m acquisition of Condor.

Financials

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Transaction Value£253m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales0.2x
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Failed

Majority

Friendly

Single Bidder

Acquisition

Private

Airlines

airline operation

Germany

Cross Border

Synopsis

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Polska Grupa Lotnicza, the owner and operator of LOT Polish Airlines, terminated the $328m acquisition of Condor, a German airline operator. The deal was terminated on April 13, 2020. Poland will not be served with the penalty fine for terminating the deal to buy Condor, as German side breached the contract, according to Jacek Sasin, Poland State Assets Minister.

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