Norbolsa | LThe Spanish airline has accepted the proposal from Turkish Airlines, which will invest €300 million. The deal includes a €275 million loan that will be converted into shares and an additional €25 million cash contribution to enter directly into the capital. With this move, the Turkish airline will acquire between 26% and 27% of Air Europa, thus appreciating its stake in the Hidalgo family’s company. Following the transaction, Globalia, which owns approximately 80%, whreduce its stake to 56%-57%, while IAG will retain 20%. Turkish Airlines said that, following the acceptance of its binding offer, it expects to close the transaction within six to twelve months.
IAG to keep 20% stake in Air Europa after Turkish Airlines investment of €300 million
