Aer Lingus deal advisers to share €30m
Bankers, corporate financiers, lawyers and other advisors are likely to share in a €30m windfall as IAG's €1.4bn takeover of Aer Lingus looks set to be approved. Last week Ryanair voted to sell its stake in Aer Lingus to IAG, essentially removing the last blockage to the deal going through.
Goldman Sachs and Investec have advised Aer Lingus, with Deutsche Bank and Goodbody working on the IAG side. Legal advisers on all sides, including Slaughter and May, have joined Irish duo Arthur Cox and William Fry and US firm Cadwalader Wickersham & Taft.
Industry experts believe that the total amount paid to advisers on the deal may be as much as €30m.
The estimated fees are based on industry standards and take into account fees charged for PR advice, accounting advice, tax advice, brokers' fees, and fees for financial advice.
One industry source said that "of the parties involved, from the Irish Government and Aer Lingus to IAG and Ryanair, there can be little doubt that Michael O'Leary is likely to have driven the hardest bargain with advisors on the deal".
Sunday Indo Business