Turkish Airlines, Air Europa Seal USD349M Investment Deal
(MENAFN) Turkish Airlines, Türkiye’s national carrier, confirmed Tuesday that its binding offer, involving a €300 million ($349 million) investment, to acquire a minority stake in Spain’s Air Europa has been officially accepted.
"In this regard, we have been informed that the binding offer submitted by our company has been accepted by Air Europa, and the process has now moved to the preparation of transaction documentation and the commencement of official procedures related to closing," the airline stated on Türkiye’s Public Disclosure Platform (KAP).
The flag carrier emphasized that the acquisition aims to reinforce its strategic footprint in the global aviation market, tap into new Latin American tourism opportunities, and boost Türkiye’s economy by expanding passenger and cargo routes between Spain and Türkiye.
The investment of €300 million is primarily structured as a capital increase. Final details on the minority share percentage will be determined through technical and financial adjustments during the closing phase.
"The process is expected to be completed within approximately six to 12 months, subject to obtaining the necessary permits and approvals from the relevant regulatory authorities," the company added.
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