The Irish airline Ryanair said Friday it has agreed to sell its 29.8% stake in Aer Lingus to International Airlines Group, after acquiring 25.1% was held by the Irish State.
The Irish airline Ryanair said Friday it has agreed to sell its 29.8% stake in Aer Lingus to International Airlines Group (IAG).
IAG, parent of British Airways and Iberia, had submitted a bid of 1,400 million euros -1.556 million of dollars for the Irish airline Aer Lingus after acquiring 25.1% was held by the Irish State.
“We believe the IAG offer for Aer Lingus is reasonable given the current market and we intend to accept, in the best interest of the shareholders of Ryanair, “said Michael O’Leary, President of the latter.
” The price means that Ryanair will make a small profit on its investment in Aer Lingus in the last nine years, “he added.
The board of Ryanair voted unanimously in favor of accepting the offer of 2.50 per share dividend plus five cents.
Ryanair had tried to acquire Aer Lingus most three times, but the British competition authorities urged the budget airline to reduce its stake to 5 percent .
ERP
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