- International Consolidated Airlines Group (IAG) has signed a definitive transaction under which its wholly owned subsidiary, IB OPCO Holding S.L. will acquire the entire issued share capital of Air Europa.
- The acquisition is for a consideration of €1 billion to be satisfied in cash at Completion and subject to a closing accounts adjustment.
- The transaction will not only re-establish the company as a leader in the highly attractive Europe to Latin America and Caribbean market but will also transforms its Madrid hub into a true rival to Europe's four largest hubs.
- On 4th November 2019, at the time of writing, GMT 08:39 AM, IAG shares were trading at GBX 553.40, up by 10.80 points or 1.99 per cent against the previous day closing price.
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