Lufthansa Consulting GmbH, part of the Lufthansa Group, is selling its shares in the Consulting Company Simat, Helliesen & Eichner, Inc. (SH&E) to the US Company ICF International, Inc. (NASDAQ:ICFI).
The Companies have already signed a definitive agreement. The Lufthansa Corporation continues its portfolio strategy by taking this decision and focuses on its core expertise.
Lufthansa Consulting had 49 percentiles of shares in the SH&E. The rest of shares are the property of employees and also will be sold to ICF International. The acquisition price for all shares will be 51 million US Dollar. Lufthansa is expecting a book gain of ten million Euros from this sale. The closing of the transaction, which is subject to certain conditions, is planned by the end of the year.
SH&E is a 40 years old aviation consulting company and currently employs some 90 employees. The Lufthansa Corporation purchased its shares towards the end of 1990s.