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IAG's Vueling takeover approved by CNMV

Source: WSJ - Thu 4th Apr 2013
IAG's Vueling takeover approved by CNMV

International Consolidated Airlines Group (IAG) , the parent company of British Airways and Iberia announced today how Spain's National Securities Market Commission - also known as the CNMV - has approved its revised offer for Vueling Airlines.

IAG's subsidiary company, Iberia, already owns 45.85% of Vueling shares, and the group has offered a price of €9.25 per share, which places the value of the Ailine at around €277 Million.

Shareholder have been given until the 19th of April to accept the offer.