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.

Germany's Lufthansa Group has completed its long-sought acquisition of Italian carrier ITA Airways, finalising on 17 January its acquisition of a two-fifths stake in the company.

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)...

It will take a few more days to close the acquisition by Lufthansa of 41% of ITA, sources close to the operation said Monday, the day initially expected for the closure of the merger between the Italian and German airlines.

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.