IAG: Vueling Delisting Tender Offer Completion

International Airlines Group’s (IAG) delisting offer for the 9.49 per cent of Vueling shares that the IAG Group did not own has been accepted by 73.86 per cent of the shares subject to the offer. This represents 7.01 per cent of Vueling’s share capital.

The offer acceptance level is below 90 per cent, which is lower than the threshold that would have enabled IAG Group to exercise its squeeze-out right.

Following settlement of the delisting tender offer, IAG Group will own 97.52 per cent of Vueling which will be delisted from the Spanish stock exchanges.