Lufthansa said to pick JPMorgan for Technik Unit stake sale, IPO

Deutsche Lufthansa has picked JPMorgan Chase & Co. to advise on the disposal of a minority stake in its aircraft-maintenance division, according to people familiar with the matter. Germany’s flagship carrier is working with the bank as it weighs a possible stake sale or initial public offering for the Technik business, the people said. Technik could be valued at E3.5b to E5b in any deal, they said. Deliberations are ongoing and no firm decisions have been made about whether to pursue a sale or IPO, the people said. Lufthansa could appoint more advisers to work on any transaction, they said. Proceeds from any disposal could be used to help Lufthansa repay a chunk of the E9b in state aid it has received to help it through the Covid-19 pandemic. <br/>