Sunday 4 December 2016

Aer Lingus takeover: IAG to finalise deal as Ryanair agrees share sale

Published 18/08/2015 | 15:53

DOMINANCE: Ryanair’s deal would add to the viability of Aer Lingus expanding its list of North American destinations
DOMINANCE: Ryanair’s deal would add to the viability of Aer Lingus expanding its list of North American destinations

British Airways owner IAG will finalise its takeover of Aer Lingus in the coming days after Ryanair agreed to sell its shares in the company.

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A Ryanair spokesman said it submitted its acceptance of the IAG’s offer for its shares in Aer Lingus today.

The confirmation is the final hurdle in IAG’s nearly year long struggle to takeover the former Irish flag carrier for an estimated €1.5bn.

Ryanair’s sign off clears the way for Aer Lingus shareholders to receive payment for their shares.

Aer Lingus shareholders are to receive €2.55 in cash for each share held, comprising a cash payment of €2.50 and a cash dividend payment of 5 cents.

 

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