Gleiss Lutz has advised the Lufthansa Group on the sale of Lufthansa AirPlus Servicekarten GmbH to the Swedish SEB Kort Bank AB. The purchase price amounts to around EUR 450 million.
In addition to Lufthansa AirPlus Servicekarten GmbH in Neu-Isenburg, the transaction includes all international subsidiaries and branches of AirPlus. The sale of the payment specialist is part of the Lufthansa Group's strategy to focus more on its core airline business. The transaction is expected to close during the first half of 2024, subject to the relevant external approvals.
AirPlus is a leading international provider of corporate payment solutions. 53,000 corporate customers rely on AirPlus for efficient payment and effective analysis of their business trips and other purchasing services. The company has around 1,100 employees and generated total revenues of around EUR 231 million in 2022.
The following team of Gleiss Lutz lawyers advised the Lufthansa Group on the transaction: Dr. Andreas Löhdefink (lead, partner, Frankfurt), Dr. Cornelia Topf (partner, Frankfurt/London), Dr. Patrick Kaffiné (partner), Kevin Löffler, Dr. Christoph Auchter (all Frankfurt), Dr. Stephanie Dausinger (Munich, all M&A), Dr. Alexander Molle (Partner), Dr. Hannah Bug (counsel, both Berlin), Dr. Sebastian Girschick (Düsseldorf), Jan Felix Hinrichs (Berlin, all IP/IT), Dr. Stefan Mayer (partner), Dr. Ocka Stumm (partner), Dr. Dominik Monz (all Tax, Frankfurt), Dr. Timo Bühler (counsel), Eva Legler, Jana Pinto Escaleira (all Banking & Finance, Frankfurt), Dr. Jens Günther (partner, Munich), Dr. Tobias Johannes Abend (counsel, Frankfurt), Dr. Matthias Böglmüller (Munich, all Employment), Dr. Wolfgang Bosch (partner, Frankfurt/London), Dr. Alexander Fritzsche (partner), Dr. Juliane Langguth (both Frankfurt, all Competition/Antitrust), Dr. Jacob von Andreae (Partner), Aylin Hoffs (both Foreign Trade and Foreign Investments, Düsseldorf), Dr. Manuel Klar (Data Protection, Munich), Tobias Burchert, Dr. Lisa Kappler, Frederic Schuster (all Public Law, Stuttgart), Sophie Römer (Dispute Resolution, Stuttgart).