International Consolidated Airlines Group S.A. (BAY.L, BAIRY.PK, IAG.L) announced Thursday that Spain's National Securities Market Commission or CNMV has approved IAG's revised offer for Vueling.
The revised offer is for 9.25 euros per share and the minimum acceptance level is 4.16 per cent of Vueling's capital.
IAG said that its subsidiary Iberia owns 45.85 per cent of Vueling shares and will not participate in the offer.
IAG stated that the offer acceptance period has been extended by nine days so that Vueling shareholders have more time to assess the revised offer. The closing date is now April 19, 2013.
For comments and feedback: editorial@rttnews.com