Nefinsa sells out of Vueling; Air Arabia shares fall following dividend payment
Nefinsa SA sold its 4.15% stake in Vueling Airlines at EUR9.5/share, according to Fidentiis Equities, which conducted the sale. Fidentiis had been mandated to sell Nefinsa's entire stake in the LCC via a book-building exercise. The company's agreement with Iberia Lineas Aereas de Espana SA to remain a shareholder in Vueling until 15-May-2011 terminated on 31-Mar-2011. Shares in Vueling were flat yesterday.