The IAG Group throughés de Iberia buys Air Europa For one billion euros, what to convert themíA in the main operator between Europe and AMérich Latin and Caribbean.
El grupo International Consolidated Airlines Group (“IAG”) and Globalia They announce that they have signed the final agreements under which the IAG subsidiary, Iberia has agreed to acquire all the share capital of Air Europa for one billion euros to be paidán in cash at the close of the acquisition processón.
With a process that owesá go through the respective Courts of Free Competition and Mercado de España and the unión European, seeks to form, although maintaining independent brands, the más important group Aéinmate that connects Europe with AMéLatin rich in the face of the growth of other groups such as Air France – KLM.
With this agreement the IAG group that manages in Madrid is transformedá In one of the más important Europeans and competeá with ÁAmsterdam, Frankfurt, London and París.
Spaghettién, It seeks to offer significant potential in Téterms of operational costs and income from the activity for each of the airlineíneas involved, generating alsoén an increase in benefit by ACCIón Regarding the profitability of the capital invested by IAG.
Finally, The closure of this agreement is expected to take place in the second half of the AñO 2020 Once the relevant authorizations are achieved by the corresponding authorities.
In statements made by Willie Walsh, CEO of IAG, it is indicatedó:
“The acquisitionóN of Air Europa supposesñGUARER TO IAG A NEW AEROLícompetitive and profitable nea, making Madrid a European hub líder and allowing IAG to achieve ATL leadershipáSouth, generating así An additional financial value for our shareholders.
IAG has a sóLida Trajectory of Successful Procurement, the más recent with the acquisitionóN aer lingus in 2015, And we are convinced that Air Europa represents a great strategy laceéGico for the group”.
On the Glovalia side that represents Air Europa Javier Hidalgo indicó:
We are convinced to beá a éthat Air Europe is incorporated into a group as IAG, that has demonstrated during all theseñYour commitment to the development of airlineíneas that make them up and for the hub of Madrid”.
The Air Europa brand isá initially preserved and society followá Being a Aut Income CenteróNo one inside Iberia directed by the CEO of Iberia, Luis Gallego.
To close, IAG indicó that has agreed to pay a break fee from 40 Millions of euros in the event that the relevant regulatory authorizations are not obtained and that any of the parties decides to resolve the agreement.
