British Airways Merge Iberia

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR THE REPUBLIC OF SOUTH AFRICA BRITISH AIRWAYS AND IBERIA cope with MOU FOR PROPOSED MERGER OF EQUALS British Airways and Iberias boards have today hold a binding memorandum of understanding (MoU) setting step forward the nucleotide for a proposed merger of the two companies to create a new, leading European airline theme that recognises the principle of proportion at board and management level. The new airline group would have 419 aircraft and fly to 205 destinations. In 2008, British Airways and Iberia carried 62 trillion passengers and, in their last financial years, their joint revenues are nigh € 15 billion. The airlines believe there is a compelling strategical rationale for the transaction, which is expected to generate annual synergies of approximately € cd million, and benefit both companies grantholders, customers and employees. The new group go out compound the two companies leading positions in the UK and Spain and enhance their strong posture in the international longhaul markets, while retaining the individual brands and current operations of each airline. The merger is expected to be completed in late 2010.

Principal terms of the proposed merger The proposed merger leave alone result in the creation of a new attribute company (TopCo) that will own both the existing airlines and whose pctholders will be the current British Airways and Iberia shareholders. Under the terms of the proposed merger, British Airways shareholders will receive one new ordinary share in TopCo for all existing British Airways ordinary share held by them and Iberia shareholders will receive 1.0205 new ordinary shares for every existing Iberia ordinary share held by them. On the basis of this exchange ratio, and after cancellation of the treasury shares held by Iberia and prior to the cancellation of the cross-shareholdings held by British Airways and Iberia in each other, British Airways... If you want to endure a full essay, order it on our website: Ordercustompaper.com

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