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12% Stake In IAG For Sale  
User currently offlineMarkam From United States of America, joined Jan 2008, 441 posts, RR: 1
Posted (1 year 4 weeks 1 day 14 hours ago) and read 3482 times:

According to Spanish news media Bankia has announced its intention to sell its 12% stake in IAG for about 700 million euros:

http://www.elmundo.es/elmundo/2013/06/26/economia/1372269026.html (Spanish only)

Who do you think could likely be interested in buying this stake? Other institutional investors? Other airlines?

13 replies: All unread, jump to last
 
User currently offlineFWAERJ From United States of America, joined Jun 2006, 3718 posts, RR: 2
Reply 1, posted (1 year 4 weeks 1 day 14 hours ago) and read 3442 times:

Quoting Markam (Thread starter):
Other airlines?

I'd say QR - they are flush with cash, and after all, IAG (BA to be specific) invited QR to oneworld.



I don't work for FWA, their tenants, or their ad agency. But I still love FWA.
User currently offlineMarkam From United States of America, joined Jan 2008, 441 posts, RR: 1
Reply 2, posted (1 year 4 weeks 1 day 13 hours ago) and read 3300 times:

Very interesting, I had not thought about this option, but it does make a lot of sense. Having a OW partner as a shareholder would provide much more stability for IAG than having just another institutional investor buying the stake, and i would also probably reassure QR and keep them committed to the long term with IAG and OW... 12% is far from a controlling stake but it probably gives a lot of say in company matters.

User currently offlinemffoda From United States of America, joined Apr 2010, 1052 posts, RR: 0
Reply 3, posted (1 year 4 weeks 1 day 13 hours ago) and read 3187 times:

The IB situation is more severe then the recent IAG CEO news release stated??


harder than woodpecker lips...
User currently offlineMarkam From United States of America, joined Jan 2008, 441 posts, RR: 1
Reply 4, posted (1 year 4 weeks 1 day 13 hours ago) and read 3167 times:

Bankia, a Spanish bank, has been in dire straits for a while, so they are looking at divesting non-core investments. That is why they have put their stake in IAG up for sale, I do not think that it has to do with IAG's or IB's situation at all.

User currently offlineFURUREFA From United States of America, joined Feb 2004, 801 posts, RR: 2
Reply 5, posted (1 year 4 weeks 1 day 13 hours ago) and read 3132 times:

Quoting Markam (Reply 4):
Bankia, a Spanish bank, has been in dire straits for a while, so they are looking at divesting non-core investments. That is why they have put their stake in IAG up for sale, I do not think that it has to do with IAG's or IB's situation at all.

And all this has already been factored into IAG's share price, resulting in the current "overhang".


User currently offlineYVRLTN From Canada, joined Oct 2006, 2444 posts, RR: 0
Reply 6, posted (1 year 4 weeks 1 day 12 hours ago) and read 3073 times:

Quoting Markam (Thread starter):
Who do you think could likely be interested in buying this stake?

SRB or MOL?   



Follow me on twitter for YVR movements @vernonYVR
User currently onlinesumma767 From United Kingdom, joined Mar 2004, 2544 posts, RR: 6
Reply 7, posted (1 year 4 weeks 1 day 9 hours ago) and read 2802 times:

Quoting Markam (Reply 4):
Bankia, a Spanish bank, has been in dire straits for a while, so they are looking at divesting non-core investments. That is why they have put their stake in IAG up for sale, I do not think that it has to do with IAG's or IB's situation at all.

Absolutely right. The bank had to be rescued.
At least they will get more from their stake in IAG than if they were only selling IB shares.


User currently offliner2rho From Germany, joined Feb 2007, 2578 posts, RR: 1
Reply 8, posted (1 year 4 weeks 1 day 7 hours ago) and read 2587 times:

And sold:
http://www.elmundo.es/elmundo/2013/06/27/economia/1372316462.html

Seems that it was already previously tied up since only hours have passed between the announcement and the sale. They have been sold to "qualified professional investors".

Quoting Markam (Reply 4):
Bankia, a Spanish bank, has been in dire straits for a while, so they are looking at divesting non-core investments. That is why they have put their stake in IAG up for sale, I do not think that it has to do with IAG's or IB's situation at all.

Agree. Bankia being a bailed-out bank is being forced to sell their assets quickly, no matter to whom or at what price. They have sold at 3.01EUR so more or less around the current share price, nevertheless a 167million profit respect to what it cost them in 2000 & 2007.


User currently offlineMarkam From United States of America, joined Jan 2008, 441 posts, RR: 1
Reply 9, posted (1 year 4 weeks 1 day 1 hour ago) and read 2100 times:

Quoting r2rho (Reply 8):
And sold:
http://www.elmundo.es/elmundo/2013/06/27/economia/1372316462.html

Seems that it was already previously tied up since only hours have passed between the announcement and the sale. They have been sold to "qualified professional investors".

Thank you for the update, does anyone have more information on who are these "qualified professional investors"? The Financial Times has also run a news piece on this, however they do not mention who is the buyer, either:

http://www.ft.com/cms/s/0/4d1f8dd2-d...1f-00144feab7de.html#axzz2XQQ9cgmf


User currently onlineVV701 From United Kingdom, joined Aug 2005, 7390 posts, RR: 17
Reply 10, posted (1 year 4 weeks 1 day 1 hour ago) and read 1987 times:

Here is a link to the Bloomberg report on the placing.

http://www.bloomberg.com/news/2013-0...take-in-british-airways-owner.html

Quoting Markam (Reply 9):
does anyone have more information on who are these "qualified professional investors"?

A "placing" usually indicates an offer for sale to numerous financial institutions at a specified but usually discounted price. In this instance the discount Bankia have had to give seems to be relatively small at only 3 per cent below the quoted market price. The institutions buying the shares are likely to be a mix of investors such as unit trusts , insurance companies and pension trustees.


User currently offlineMarkam From United States of America, joined Jan 2008, 441 posts, RR: 1
Reply 11, posted (1 year 4 weeks 1 day ago) and read 1917 times:

Quoting VV701 (Reply 10):
A "placing" usually indicates an offer for sale to numerous financial institutions at a specified but usually discounted price. In this instance the discount Bankia have had to give seems to be relatively small at only 3 per cent below the quoted market price. The institutions buying the shares are likely to be a mix of investors such as unit trusts , insurance companies and pension trustees.

I see, thanks for the information! I imagine that Bankia just wanted to get their money as soon as possible and in any case institutional investors are standard in the industry, but as mentioned I think that another OW partner, such as AA or QR may have been a more desirable investor from IAG's point of view.   


User currently offlineskystar767 From United States of America, joined Jun 2013, 51 posts, RR: 0
Reply 12, posted (1 year 4 weeks 15 hours ago) and read 1531 times:
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Would be funny if Delta buys the 12% shares of IAG  

User currently offlineMarkam From United States of America, joined Jan 2008, 441 posts, RR: 1
Reply 13, posted (1 year 4 weeks 15 hours ago) and read 1396 times:

Another news piece in the Spanish media mentions that El Corte Inglés, a Spanish department store chain, has also sold its 1.8% state in IAG, and that this means that now the only major Spanish investor in the airline group is the Spanish government (2.7% stake).

http://www.elmundo.es/elmundo/2013/06/27/economia/1372356070.html (Spanish only)

[Edited 2013-06-27 17:40:54]

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