Germany's Lufthansa Group on Friday finalized its acquisition of Italian airline ITA Airways, closing a long period of uncertainty for Italy’s former flagship carrier.Under the 325-million-euro ($350 million) deal,

Lufthansa Group officially purchased a 41% stake in ITA Airways Jan. 17 with its capital infusion of €325 million ($334 million), making the Italian carrier its fifth network airline. The remaining 59% of ITA will initially continue to be held by the Italian Ministry of Economy and Finance (MEF)...

The MEF pointed out the divestiture of ITA Airways as one of the highlight-worthy moments of its tenure, noting that the Lufthansa Group’s purchase of the Italian airline’s 41% shares through a capital increase will conclude a 40-year history of wasting taxpayers’ money.

Germany's Lufthansa announced on Friday that it has taken the first step towards a takeover of Italy's state-owned ITA Airways by completing an approved capital increase of €325 million ($334 million).

Germany's Lufthansa Group on Friday finalised its acquisition of Italian airline ITA Airways, closing a long period of uncertainty for Italy's former flagship carrier.

The closing of the Ita-Lufthansa operation is postponed: a few more days will be needed to formalize the acquisition and the payment of the 325 million euros needed to buy 41% of Ita Airways. According to rumors,

Under the €325-million ($350-million) deal, Lufthansa takes an initial 41 per cent stake in ITA, formerly Alitalia, from the Italian government, gaining full control by 2033 with a total investment of €829-million. The remaining 59 per cent will initially continue to be held by the Italian Treasury.

Lufthansa finalised its acquisition of a 41% stake in Italian state-owned airline ITA after European antitrust remedies were put in place, it said on Friday, in a deal designed to boost the carrier's presence in the lucrative southern European market.