The owner of Iberia confirms the purchase of 20% of the shares of Air Europa

The multinational International Airlines Group (IAG), the group that owns Iberia, has acquired 20% of the shares of Air Europa. The group converts "the loan of 100 million euros" agreed with Globalia, the airline's parent company, into shares, the latter tourism conglomerate has reported in a note sent to the media.

IAG has also confirmed the operation. In a statement to the National Securities Market Commission (CNMV) it is limited to indicating that "it has exercised its option to exchange the unsecured loan of 100 million euros over seven years from the group to Globalia for a 20% stake in the share capital of Air Europa.

IAG thus acquires an important part of the capital of Air Europa, as reported by the National Securities Market Commission (CNMV) in March, in another twist of a corporate operation that has been on the table for months.

"The decision reinforces the Globalia project, which will continue to be the majority shareholder of Air Europa", indicates the group until now controlled by the Hidalgo family in the statement released this Tuesday.

The purchase agreement had already been announced in March, but it was conditional on Globalia receiving the approval of the syndicated banks that facilitated the loan partially guaranteed by the Official Credit Institute (ICO) and the State Society of Industrial Participations (SEPI). .

Globalia, points out in its press release, indicates that the IAG group has finally exercised the option to convert the loan "of 100 million euros over seven years" that was agreed in March and that has been "formalized in June" into shares.

Before this communication, IAG shares recorded a rise of 1.3% on Tuesday

The injection of funds by IAG is confirmed after months in which the negotiations between IAG and Globalia have lived moments of tension and, in different weeks, have been postponed, given for broken and even that Globalia opened the door to negotiate a possible merger agreement with other European airlines, such as Air France.

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