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Spanish National Securities Market Commission Authorizes Vueling Tender Offer Filed by Veloz Holdco SL, Subsidiary Of International Consolidated Airlines Group SA


Thursday, 28 Feb 2013 02:36am EST 

International Consolidated Airlines Group SA (IAG) announced that on February 27, 2013 the Spanish National Securities Market Commission authorized the tender offer that was filed by Veloz Holdco SL, a wholly-owned subsidiary of IAG, for all shares representing the capital stock of Vueling Airlines SA (Vueling) on December 10, 2012 and declared admissible on December 20, 2012. The offer targets all of the shares of Vueling. Iberia has declared to the offering company in writing its unconditional and irrevocable commitment to not to accept the offer in respect of any of the 13,711,221 shares of Vueling, representing 45.85 % of the capital stock it currently owns, and in order to guarantee this commitment, to block its shares of Vueling. Therefore, the offer will effectively target 16,193,297 shares of Vueling representing 54.15% of its capital stock and an equal percentage of voting rights. The effectively targeted shares of the offer, added to the ones that have been blocked, as mentioned above, represent 100 % of the capital stock and of the voting rights of Vueling. The offer is formulated as a purchase/sale and the consideration for the offer is EUR 7 per share.