Iberia Cabin Crew

July 01 2024 10:13:42 — International Airlines Group, IAG, announces a share purchase programme to hedge shares for acquiring 80% of Air Europa, pending regulatory approval.

The primary purpose of this Programme is to hedge the requirement to deliver shares to Globalia as part of the consideration for the proposed acquisition of the remaining 80% of Air Europa’s issued share capital.

If the acquisition fails, shares may fulfill IAG’s share-based incentives.

Goldman Sachs will execute the €70M programme, buying up to 27,064,575 shares on the London and Spanish Stock Exchanges, capped at 25% of daily trading volume, from 1 July to 2 August 2024.

This strategic move by IAG underscores its commitment to expanding its operations through the acquisition of Air Europa, enhancing its market position in the European aviation industry. The share purchase programme ensures that IAG can fulfill its obligations regardless of the regulatory outcome, demonstrating a proactive approach to corporate governance and financial management.

SAP Allocates €2 Billion to AI-Focused Restructuring in 2024

Rheinmetall Enters Light Hybrid Vehicle Market with Acquisition of Dutch Startup REEQ

Daimler Truck Delivers 1,000th Electric School Bus, Advancing Sustainable Transportation

Leave a Reply

Your email address will not be published. Required fields are marked *

GDPR Cookie Consent with Real Cookie Banner