Thu. Apr 25th, 2019

IAG limits to 47.5% the presence of non-EU investors in its shareholding

IAG limits to 47.5% the presence of non-EU investors in its shareholding


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MadridUpdated:

IAG, the holding company that integrates Iberia, British Airways, Vueling, Aer Lingus and Vueling, has notified the National Securities Market Commission (CNMV) that will limit the presence of non-EU shareholders within its social capital to 47.5%, a percentage that has already been reached. That is to say, from this moment no non-EU investor will be able to increase his participation in the group, or enter into his shareholding.

The bylaws of the holding allow limiting the presence of non-members in the capital stock of IAG. And it is that the community rules establish that airlines must be involved in a 50.01% by community investors to maintain their flight license.

The IAG decision does not solve, however, the hypothetical problem that Brexit would generate for the group. And is that if a process of abrupt rupture proceeds, British investors would no longer be considered community, which would raise the presence of shareholders outside the EU above the legal threshold.

"It does record that the British people they are not and will not be treated as Non-EU Persons and, consequently, they are not and will not be subject to the restrictions on the acquisition of shares mentioned in this announcement, "the holding company explained in the statement sent to the CNMV.

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