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Wed, May 27, 2015

Aer Lingus Sale Near Approval

Report Presented To Government Says Offer Is 'Fair'

British Airways parent company IAG may soon be the owner of a 25 percent stake in Aer Lingus.

A report from the steering committee established by the Irish government to review the sale presented a report to the government Tuesday indicates that IAGs offer of $2.78 per share is a "fair price" for the 25 percent share currently owned by the state, according to Buying Business Travel.

Aer Lingus said earlier this year that it was willing to accept that price.

Irish Transport Minister Paschal Donohoe said that the government would “take great care and exercise great caution in examining the pros and cons to Ireland” of any offer.

If the deal is approved, it would still be subject to a vote in parliament, where there is reportedly still significant opposition to the sale. Ryanair would also be required to sell its 30 percent stake in Aer Lingus to gain final approval.

(Image from file)

FMI: www.dttas.ie

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