Tender offer to delist Vueling shares

RNS Number : 5511F

International Cons Airlines Group

24 May 2013

 



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TENDER OFFER TO DELIST VUELING SHARES

International Airlines Group's (IAG) subsidiary Vueling has called a general shareholders' meeting on June 27, 2013 to approve the delisting of Vueling's shares from the Spanish stock exchanges.

The delisting tender offer will be €9.25 per share. Vueling will be delisted from the Barcelona, Bilbao, Madrid and Valencia stock exchanges upon successful completion of the offer.

Since April 26 2013, IAG Group has owned 90.51 per cent of Vueling. This follows a cash tender offer for the Vueling shares that were not already owned by IAG's subsidiary Iberia which has a 45.85 per cent holding. Acceptance of the original cash tender offer of €9.25 euro per share was recommended by the Vueling board on April 9, 2013.

Vueling is a Spanish low cost carrier based in Barcelona. It will remain a standalone operating company within IAG with its chief executive Alex Cruz reporting into IAG chief executive Willie Walsh.

Ends

May 24, 2013                                                                                                                 IAG17

Forward-looking statements:

Certain information included in these statements is forward-looking and involves risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward-looking statements.

Forward-looking statements include, without limitation, projections relating to results of operations and financial conditions and International Consolidated Airlines Group S.A. (the 'Group') plans and objectives for future operations, including, without limitation, discussions of the Company's Business Plan, expected future revenues, financing plans and expected expenditures and divestments. All forward-looking statements in this report are based upon information known to the Company on the date of this report. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

It is not reasonably possible to itemise all of the many factors and specific events that could cause the Company's forward-looking statements to be incorrect or that could otherwise have a material adverse effect on the future operations or results of an airline operating in the global economy.  Further information on the primary risks of the business and the risk management process of the Group is given in the Annual Report and Accounts 2012; these documents are available on www.iagshares.com.

 

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