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International Airlines Group (IAG) Seals Deal To Purchase Aer Lingus Airlines

August 19, 2015 - International Airlines Group (IAG) has received confirmation of the valid acceptance of its Offer for Aer Lingus in respect of all the Aer Lingus shares held by the Ryanair Group. Ryanair’s acceptance was a condition of the Offer which is now wholly unconditional as all the conditions have been satisfied.

Back on July 10th Ryanair board members voted to accept IAG offer For Aer Lingus Stake. The boar unanimously to accept the IAG offer for Ryanair’s 29.8% shareholding in Aer Lingus Group plc. Ryanair’s stake in Aer Lingus has been available for sale since May 2012. In July Ryanair agreed to sell its stake in the company for €2.55 per share. The Board believes that IAG's offer will maximize Ryanair shareholder value.


Ryanair’s Michael O’Leary said, “We believe the IAG offer for Aer Lingus is a reasonable one in the current market and we plan to accept it, in the best interests of Ryanair shareholders. The price means that Ryanair will make a small profit on its investment in Aer Lingus over the past 9 years".

The Irish state owns over 25% Aer Lingus but they have agreed to sell its stake in the company. The Irish state had previously held an 85% shareholding until the Government's decision to float the company on the Dublin and London Stock Exchanges in 2006.

IAG chief executive Willie Walsh said: “We’d like to welcome Aer Lingus into IAG. It will remain an iconic Irish brand with its base and management team in Ireland but will now grow as part of a strong, profitable airline group. This means new routes and more jobs benefitting customers, employees and the Irish economy and tourism”.



On Tuesday, AERL Holding Limited, the wholly owned subsidiary of International Consolidated Airlines Group, S.A., had received valid acceptances of the Offer for 517,490,180 Aer Lingus shares, representing 95.77 per cent of the existing issued share capital of Aer Lingus. The Offer will remain open for acceptance until the final closing date of September 1, 2015, giving Aer Lingus shareholders time to accept the Offer.

AERL Holding is in receipt of valid acceptances in respect of more than 75 per cent of Aer Lingus shares and the Offer is wholly unconditional. As such, AERL Holding will request Aer Lingus to apply for cancellation of its share listings by the Irish Stock Exchange and UK Listing Authority and the cancellation of the admission to trading of Aer Lingus shares on the Irish Stock Exchange and London Stock Exchange. It's anticipated that cancellation of listing and trading will take effect no earlier than 0800 (Irish time) on 17 September 2015. AERL Holding also intends to take the necessary steps to acquire compulsorily any outstanding Aer Lingus shares and to re-register Aer Lingus as a private company.

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