IAG to acquire Irish government stake in Aer Lingus

International Airlines Group has agreed to purchase the Irish government held stake of flag-carrier Aer Lingus for approximately €1.4 billion.

Existing Aer Lingus shareholders will receive €2.55 in cash for each Share, comprising a cash payment of €2.50 per share and a cash dividend of €0.05 per share.

The terms of the transaction represent a premium of approximately 40 per cent on the closing price of €1.82 per Aer Lingus Share on December 17th 2014, the last dealing day prior to the first IAG offer.

Commenting on the deal, Willie Walsh, chief executive of IAG said: “Aer Lingus, Ireland and IAG would all benefit from this deal.

“Aer Lingus would maintain control of its brand and operation while gaining strength as part of a profitable and sustainable airline group in an industry that’s consolidating.Read More 28/05/2015 Breaking Travel News