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Aer Lingus shareholders vote in favour of IAG takeover

Aer Lingus shareholders have voted in favour of four resolutions which approve the International ...
Newstalk
Newstalk

07.41 16 Jul 2015


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Aer Lingus shareholders vote i...

Aer Lingus shareholders vote in favour of IAG takeover

Newstalk
Newstalk

07.41 16 Jul 2015


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Aer Lingus shareholders have voted in favour of four resolutions which approve the International Airlines Group (IAG) takeover bid.

The poll took place in private and the results came ahead of an IAG deadline of 5pm this evening.

Four resolutions in relation to the deal were put to shareholders, and all were passed by a majority.

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Shareholders met to vote on connectivity guarantees and the government's 'B share' at an Extraordinary General Meeting (EGM) in Dublin today.

It is about six months now since IAG interest in Aer Lingus was first reported, which came ahead of several protests and debates about job cuts and connectivity arrangements.

The Transport Minister Pascal Donohoe said yesterday that concerns over slots at Heathrow would be eased at the meeting.

Aer Lingus chairman Colm Barrington says that if the takeover goes ahead, IAG could be in control quite soon.

"If IAG get 90% acceptance by the end of today, then within two weeks shareholders will receive their payment fro their shares and the company will become owned by IAG - that's the best possible scenario" he said.

"But we certainly expect that by the end of August, the transaction will be completed" he added.

Mr Barrington also said said concerns over the deal will be proven to be misguided.


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