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International Consolidated Airlines Group SA Gains Control of Vueling Airlines SA-Reuters

Tuesday, 23 Apr 2013 06:57am EDT 

Reuters reported that International Consolidated Airlines Group SA (IAG) has won sufficient backing from investors in Vueling Airlines SA (Vueling) to take control of the Spanish budget airline. IAG has approximately 90% of Vueling, up from 46%, after a takeover bid that valued the company at EUR 277 million (USD 360 million).IAG offered EUR 9.25 per share after Vueling's management rejected a previous offer of EUR 7 per share.