Iberia parent company already holds 46% stake
International Airlines Group has shown its determination to stage a takeover of the Spanish carrier Vueling by raising its offer to €9.25 per share. An original bid of €7 per share was rejected by Vueling’s management earlier in March. IAG, the parent company of Iberia as well as British Airways, already holds a 45.85% stake.
IAG, which is also extending the offer’s acceptance period from 39 to 48 days, says that Veloz Holdco, its takeover vehicle, “will submit the documentation relating to the amended offer with the Spanish National Securities Markets Commission (CNMV) for its authorisation on or before 3 April 2013.”
[photo courtesy Vueling]