{"id":14940,"date":"2024-07-02T09:25:21","date_gmt":"2024-07-02T06:25:21","guid":{"rendered":"https:\/\/aviation-news.info\/?p=14940"},"modified":"2024-07-02T09:25:21","modified_gmt":"2024-07-02T06:25:21","slug":"iag-starts-another-round-of-share-buy-backs-to-support-air-europa-acquisition","status":"publish","type":"post","link":"https:\/\/aviation-news.info\/?p=14940","title":{"rendered":"IAG starts another round of share buy-backs to support Air Europa acquisition"},"content":{"rendered":"

British Airways and Iberia parent IAG is pursuing another share buy-back programme intended to support its proposed acquisition of Spanish operator Air Europa.<\/p>\n

IAG states that it will acquire a maximum of just over 27 million shares, and has allocated \u20ac70 million ($75 million) to the programme.<\/p>\n

The company is undertaking the share purchase in order to hedge its requirement to provide shares to Air Europa owner Globalia as part of IAG\u2019s consideration for purchasing the carrier.<\/p>\n

Financial firm Goldman Sachs Bank Europe will make the share purchases on IAG\u2019s behalf, with the programme running from 1 July to 2 August.<\/p>\n

IAG holds 20% of Air Europa, following conversion of a \u20ac100 million loan, and is looking to take the remaining 80%.<\/p>\n

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<\/div>\n<\/div>\n

It embarked on a similar buy-back last year under which it acquired 27 million shares for the purpose of pursuing Air Europa deal.<\/p>\n

The shares are being held in treasury while IAG awaits regulatory clearance to progress with the acquisition.<\/p>\n

IAG has offered \u20ac400 million for the 80% balance of Air Europa, with the initial \u20ac200 million payment on closing to comprise \u20ac100 million in IAG shares plus \u20ac100 million in cash. The remaining \u20ac200 million will be paid in cash over the subsequent two years.<\/p>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

British Airways and Iberia parent IAG is pursuing another share buy-back programme intended to support its proposed acquisition of Spanish operator Air Europa. IAG states that it will acquire a maximum of just over 27 million shares, and has allocated \u20ac70 million ($75 million) to the programme. The company is undertaking the share purchase in …<\/p>\n","protected":false},"author":1,"featured_media":14941,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpscppro_dont_share_socialmedia":null,"_wpscppro_custom_social_share_image":0,"_facebook_share_type":"default","_twitter_share_type":"default","_linkedin_share_type":"default","_pinterest_share_type":"default","_linkedin_share_type_page":"","_instagram_share_type":"default","_medium_share_type":"","_threads_share_type":"","_google_business_share_type":"","_selected_social_profile":null,"_wpsp_enable_custom_social_template":false,"_wpsp_social_scheduling":{"enabled":false,"datetime":null,"platforms":[],"status":"template_only","dateOption":"today","timeOption":"now","customDays":"","customHours":"","customDate":"","customTime":"","schedulingType":"absolute"},"_wpsp_active_default_template":true},"categories":[96,102],"tags":[],"class_list":["post-14940","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aviation-world","category-featured-en"],"yoast_head":"\nIAG starts another round of share buy-backs to support Air Europa acquisition - aviation news<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/aviation-news.info\/?p=14940\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IAG starts another round of share buy-backs to support Air Europa acquisition\" \/>\n<meta property=\"og:description\" content=\"British Airways and Iberia parent IAG is pursuing another share buy-back programme intended to support its proposed acquisition of Spanish operator Air Europa. 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