IAG, Globalia In Talks To Terminate Air Europa Acquisition - Quick Facts

International Airlines Group (IAG.L,BAIRY.PK,BAY.L) and Globalia stated that discussions are at an advanced stage to terminate the acquisition agreement, under which IAG's unit, Iberia, had agreed to acquire the entire issued share capital of Air Europa. The companies noted that a further update will be made in the future, as appropriate.

In November, 2019, IAG and Globalia entered definitive transaction agreements for the acquisition of Air Europa for 1 billion euros. In January, 2021, the companies amended their agreement, under which they agreed that the amount to be paid by Iberia for Air Europa will be reduced to 500 million euros.

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