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Aer Lingus delists from Dublin stock exchange

Final step in IAG takeover of Aer Lingus complete as airline delists from Dublin stock exchange
Final step in IAG takeover of Aer Lingus complete as airline delists from Dublin stock exchange

Aer Lingus is no longer listed on the ISEQ index of Irish publicly quoted companies as of today - nine years after it first floated.

The company has also delisted from the London stock exchange today - the final act in IAG's takeover of the airline.

IAG, headed by former Aer Lingus CEO Willie Walsh, has paid out all the main shareholders in Aer Lingus - the State, Ryanair and Etihad.

Anyone who wanted to accept the IAG offer of €2.50 per share plus a five cent dividend had to do so by September 1.

The bigger shareholders were given a deadline of the end of July for acceptance but Ryanair decided to hold out on formal acceptance of the offer until August 18.

Ryanair made back all of the €407m it invested in Aer Lingus for a near 30% stake, plus a small profit. The State made €335m from its 25% stake in the airline.

Abu Dhabi-based Etihad made a nice return on its investment - doubling its investment and walking away with around €65m.

But regular shareholders will not be walking away with such a gain - anyone who bought in on day one at €2.20 per share will probably be happy to walk away with the €2.55 offer given that they would have been nursing a loss on their investment for much of the investment period.