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IAG begins process of purchasing Vueling

11-Dec-2012 10:19 AM

International Airlines Group (IAG) announced (10-Dec-2012) it began the process of seeking to purchase 100% of Vueling through seeking authorisation for a tender offer from Spain’s National Securities Market Commission. IAG plans to acquire 16.2 million shares of Vueling, equal to 51.14% of the total, that it does not already own. Banco Santander agreed to guarantee EUR113.4 million to cover the cost of the transaction which equates to EUR7 per share. [more - original PR - IAG] [more - original PR - IAG II]