British Airways Owner IAG Submits New €400m Offer to Acquire Air Europa
International Airlines Group (IAG), the parent company of British Airways and Iberia, has made a renewed offer to acquire the remaining 80% of Spanish airline Air Europa. The new bid is valued at €400 million, split between €200 million in cash and €200 million in IAG shares. This move follows a previously abandoned €1 billion takeover attempt in 2019, which was scrapped due to concerns from competition regulators. IAG, which already owns a 20% stake, aims to transform Madrid into a leading European hub, rivaling others like Amsterdam, Frankfurt, and Paris. The acquisition would significantly strengthen IAG's network on crucial routes to Latin America. The deal remains subject to approval from regulatory bodies.
Official Source: https://www.bbc.com/news/articles/c8dl3z9878no?at_medium=RSS&at_campaign=rss
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