The Air France-KLM Group has entered into a hedging transaction with Société Générale to protect the value of 12,000,000 ordinary shares it holds in Amadeus Holding, representing about a third of its stake.
The group says the transactions aims to protect the value of the shares, while continuing to benefit from the potential upside of the price of its remaining shares. It holds 5% of Amadeus Holding.
In connection with the hedging transaction, Société Générale is selling 7.4 million shares in Amadeus Holding by through an institutional private placement.
HSBC is acting as sole bookrunner of the placement.