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Aer Lingus Joins IAG, With Ryanair Accepting IAG’s Offer for 29.82% Stake

International Airlines Group (IAG) on 18th August 2015 received confirmation of the valid acceptance of its takeover offer for Aer Lingusby Ryanair, with Ryanair’s acceptance making the offer “wholly unconditional as all the conditions have been satisfied.”

Aer Lingus Group plc is the national flag carrier airline of Ireland. It operates a fleet of mostly Airbus aircraft serving Europe, North Africa, Turkey and North America. Ryanair’s 29% stake in Aer Lingus will be sold to IAG for €2.55 per share. Photo Credit: Niall Carson/PA

IAG had received valid acceptances representing 95.77% of Aer Lingus’ existing issued share capital by its acceptance deadline of 13:00 IST on 18-Aug-2015, with the offer to now remain open for acceptance until the final closing date of 15:00 IST on 01-Sep-2015.

IAG subsidiary AERL Holding “will request Aer Lingus to apply for cancellation of its share listings by the Irish Stock Exchange and UK Listing Authority and the cancellation of the admission to trading of Aer Lingus shares on the Irish Stock Exchange and London Stock Exchange.” The company anticipates the cancellation of listing and trading will take effect “no earlier” than 08:00 IST on 17-Sep-2015. AERL Holding “also intends to take the necessary steps to acquire compulsorily any outstanding Aer Lingus shares and to re-register Aer Lingus as a private company.”

IAG CEO Willie Walsh said: “We’d like to welcome Aer Lingus into IAG. It will remain an iconic Irish brand with its base and management team in Ireland but will now grow as part of a strong, profitable airline group. This means new routes and more jobs benefitting customers, employees and the Irish economy and tourism.”

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