Ryanair board votes to accept IAG offer for Aer Lingus stake
Ryanair's stake in Aer Lingus has been available for sale since May 2012 and the board believes that the current IAG offer maximises Ryanair shareholder value.
In line with this decision, Ryanair will now vote in favour of the motion at the Aer Lingus EGM on July 16 next to give the Irish Government a golden share over Aer Lingus's Heathrow slots and Ryanair will also vote its 29.8% shareholding in favour of acceptance of the IAG offer, subject to this offer receiving regulatory approval from the European competition authorities.
Ryanair's Michael O’Leary said: "We believe the IAG offer for Aer Lingus is a reasonable one in the current market and we plan to accept it, in the best interests of Ryanair shareholders. The price means that Ryanair will make a small profit on its investment in Aer Lingus over the past 9 years." ■