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France will contribute up to Sh506.9 billion ($4.7 billion) to a recapitalisation of Air France-KLM and more than double its 14.3 per cent stake in the airline group under plans announced on Tuesday with European Union approval.
The French government will convert a 3 billion euro loan extended to the group last year into a hybrid instrument and commit up to an additional 1 billion euros to a planned share issue, raising its stake in Air France-KLM to almost 30 per cent.
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