The offer by International Airlines Group to acquire the 54% of Vueling’s shares that it does not already own expired on Friday 19 April. The airline group initially made an offer priced at €7.00 per share which Vueling management chose not to recommend. IAG subsequently increased its offer to €9.25 per share. However, the minimum acceptance level was reduced to just 4.16% of Vueling’s capital to leave IAG with at least overall control of Vueling, if not 100% ownership.
Assuming the transaction completes this will be the second airline acquired by IAG since its formation in 2011 and the third member airline of the group (the first acquisition, bmi, being subsumed into British Airways).
So why is IAG so interested in Vueling and what does it have planned for the airline?
Continue reading “What does International Airlines Group have planned for Vueling?”