18th Aug 2015 16:33
LONDON (Alliance News) - International Consolidated Airlines Group on Tuesday said its offer for Aer Lingus has become unconditional after it received confirmation that Ryanair Holdings PLC has formally accepted the offer.
Ryanair's acceptance of the offer had been one condition required for the deal to go through. Ryanair owned a 29.8% stake in Aer Lingus.
"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," Chief Executive Willie Walsh said in a statement.
IAG said it has received valid acceptances of the offer from 95.77% of Aer Lingus shareholders.
The offer will remain open until September 1.
By Samuel Agini; [email protected]; @samuelagini
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