British Airways, Iberia Merger Plan Document Signed
30 6월 2010 - 1:40AM
Dow Jones News
British Airways PLC (BAY.LN), an airline company, announced
Tuesday that BA Holdco SA (a new Spanish company formed on behalf
British Airways), Iberia, Líneas Aéreas de España, S.A. and
International Consolidated Airlines Group S.A. (IAG) have signed a
merger plan document which is required under Spanish law to
implement the merger between British Airways and Iberia.
MAIN FACTS:
-The merger timetable remains unchanged.
-It is expected that both airlines will hold shareholder
meetings to approve the transaction in November 2010 with
completion expected to occur one month later.
-Completion of the merger remains subject to regulatory approval
from the European Commission.
-It is also conditional on the U.K. Pensions Regulator not
challenging the pension recovery plan agreed between British
Airways and its pension trustees and approval of that plan by
Iberia before September 30.
-Shares closed Tuesday at 197 pence.
-By Zechariah Hemans, Dow Jones Newswires; 44-20-7842-9411;
zechariah.hemans@dowjones.com