German Lufthansa Group has finalized its acquisition of Italian airline ITA Airways, closing a long period of uncertainty for Italy’s former flagship carrier.

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.

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).

German airline giant Lufthansa's investment in the Italian state-owned airline ITA Airways, which Lufthansa executives expected to be announced on Monday, may face last-minute delays. The closing of the long-agreed deal had not been announced by Monday afternoon,

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.

After years of talks, the Lufthansa Group is expected to complete the acquisition of ITA Airways next week. The acquisition will see the Italian carrier join many other European airlines in the group,