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IAG and Lufthansa agreement in principle on BMI

7-Nov-2011 10:30 AM

International Airlines Group (IAG) and Lufthansa reached (04-Nov-2011) an agreement in principle for the sale of British Midland Ltd (BMI) to IAG. The sale and closing of the deal remain subject to conditions including a binding purchase agreement, further due diligence and regulatory clearances. It is envisaged that the purchase agreement will be signed in the coming weeks and the aim is for the transaction to be completed in 1Q2012. [more - original PR][more - CAPA Analysis]