IFLR1000

International Consolidated Airlines Group (IAG) €1.4 billion acquisition of Aer Lingus

18/8/2015
Acquisition finance, Public acquisition
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€ 1.4 billion

$ 1.504 billion

Completed

18/8/2015

Overview:

  • International Airlines Group (IAG) has acquired Aer Lingus for €1.4 billion.
  • The deal ends the Irish state's involvement with the airline with the government selling its 25% stake.
  • Budget airline Ryanair was also a significant shareholder and sold its 30% stake as part of the deal.
  • Competition clearance was approved through IAG agreeing to give up five daily take off and landing slots at London Gatwick airport.
  • IAG had originally launched a €1 billion bid for the airline in December 2014 but this was rejected.

Sam Duke - Editor

Jurisdictions:

Ireland
Spain

Deal types:

Acquisition finance
Public acquisition

Practice area:

M&A

Industry sector:

Aviation

Firms:
Allen & Overy

Party: Deutsche Bank AG Na ON (Lender)

Party: Bank of America Merrill Lynch (Lender)

Lawyer: Ignacio Ruiz-Cámara

Arthur Cox

Party: Aer Lingus (Target)

Lawyer: Stephen Hegarty (retired)

Garrigues

Party: International Consolidated Airlines Group SA (Acquirer)

Lawyer: Jaime Bragado

Mason Hayes & Curran

Party: Deutsche Bank AG Na ON (Financial adviser)

Lawyer: Justin McKenna

McCann FitzGerald LLP

Party: Government of Ireland (Seller)

Lawyer: Aidan Lawlor

Slaughter and May

Party: International Consolidated Airlines Group SA (Acquirer)

Lawyer: Matthew Tobin

White & Case

Party: Deutsche Bank AG Na ON (Financial adviser)

William Fry

Party: International Consolidated Airlines Group SA (Acquirer)

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