International Consolidated Airlines Group SA Makes Formal Offer To Acquire Vueling Airlines SA-Reuters

Reuters reported that International Consolidated Airlines Group SA (IAG) announced that it had made a formal offer to buy the 54.15% of Vueling Airlines SA that it doesn't already own for EUR 113 million. The Company also announced that it had made an offer of EUR 7 per share and that a deal would be funded using internal IAG resources. While IAG holds 46% of Vueling's capital, 23% is held by international institutional investors, 13% by Spanish investors and 18% by minority shareholders. The deal values Vueling at EUR 209.3 million.