Slaughter and May is advising IAG - recommended cash offer for Aer Lingus

02 Sep 2015

Slaughter and May is advising International Consolidated Airlines Group, S.A. (IAG), the holding company of British Airways, Iberia and Vueling, on the competition and financing aspects of its approximately EUR 1.4 billion recommended cash offer for Aer Lingus.

The offer, which was declared wholly unconditional on 18 August and closed on 1 September, is governed by the laws of Ireland and is subject to the requirements of the Irish Takeover Rules. The offer will be financed by a EUR 800 million bridge loan facility and a EUR 600 million acquisition term loan facility. Both facilities are governed by English law. The transaction received Phase 1 merger clearance from the European Commission on 14 July.

Slaughter and May is working as a team with William Fry, Garrigues, Sullivan & Cromwell LLP and Pillsbury Winthrop Shaw Pittman LLP. William Fry is advising IAG as to Irish law. Garrigues is advising IAG as to Spanish law. Sullivan & Cromwell LLP are advising IAG as to US merger control, and Pillsbury Winthrop Shaw Pittman LLP are advising IAG as to US Department of Transportation aspects of the transaction.

Contacts

Competition: John Boyce (partner), Anna Lyle-Smythe (partner), Murray Reeve (associate), Natalie Cooksey (associate), Lauren Dingsdale (associate); Financing: Matthew Tobin (partner), Andrew Williams (associate), David Hay (associate), Tsjatsja Westerveld (associate); Corporate: Adam Eastell (partner); Tax: Tony Beare (partner), Stefan Farahani (associate)

William Fry: Ken Casey (partner), Adam Synnott (partner)

Garrigues: Jaime Bragado (partner)

Sullivan & Cromwell LLP: Daryl Libow (partner)

Pillsbury Winthrop Shaw Pittman LLP: Kenneth Quinn (partner)


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