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Ireland: Government votes to shed stake in Aer Lingus

By  |  May 27, 2015

The Irish government agreed to sell its 25 percent stake in Aer Lingus to IAG paving the way for the owner of British Airways and Iberia to formally launch its 1.36 billion euro ($1.48 billion) bid for the Irish carrier.

International Airlines Group’s (IAG) proposed offer for Aer Lingus was recommended by the Irish airline’s board in January, but was held up while the Irish government sought reassurances on jobs, transatlantic services and connections to London.

The deal is still conditional on the backing of Aer Lingus’ other main shareholder, budget airline Ryanair.

“There’s a number of extremely important changes that have led to this decision by government,” Irish transport minister Paschal Donohoe told a news conference on Tuesday, after a cabinet meeting.

 

Full content: The New York Times

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