British Airways owner IAG in line for Niki takeover, reports say
British Airways owner IAG in line for Niki takeover, reports say
The owner of British Airways has bought Niki for €20m and is pumping a further €16.5m into the business
Adam Berry Getty Images
29 December, 2017, 21:34
British Airways' parent company IAG looks to be closing in on purchasing Air Berlin's Austrian subsidiary Niki.
Besides IAG, the owner of British Airways and low-priced carrier Vueling, bidders for holiday airline Niki included tour operators TUI, Thomas Cook and former Formula One world champion Niki Lauda.
"IAG is the last remaining bidder and is still negotiating now", the person was quoted as saying by DPA.
However, Niki was abruptly forced to declare bankruptcy when Lufthansa recently withdrew its offer for the firm in the face of persistent resistance to the merger from European antitrust authorities. The price is expected to be around €40 million.
Administrator Lucas Floether did not mention IAG by name as the sole bidder, but Reuters and Austrian media quoted sources saying IAG became the exclusive bidder December 28 after NIKI founder Niki Lauder, Thomas Cook and SilverArrow Capital all dropped their bids.
Niki's administrator Lucas Floether has confirmed that creditors have agreed to begin "final talks" with an unnamed chosen bidder.
Tour operators Thomas Cook and Tui are also believed to have withdrawn from the race to buy Niki.
Die Presse also reported, without citing sources, that IAG was likely to be the last bidder. IAG has not commented on the speculation. TUI was not immediately available to comment.
Floether meanwhile noted that the new owner will have to pay Niki's running costs, including salaries for its roughly 1,000 employees in Austria and Germany, from the beginning of January.
Founded by former Formula One champion Niki Lauda in 2003, Niki was sold to Air Berlin Group in 2011.
It comes after Lufthansa ditched plans to buy Niki after the European Commission raised competition concerns over the deal earlier this month.
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The measure is retroactive to January 1, 2017, meaning that companies would be given a refund on the taxes they paid in 2017. According to experts, China is under pressure due to the ambitious U.S. tax reform adopted shortly before Christmas.
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We’ve now entered 2020 and the sporting world will certainly have a lot to show us in the upcoming year. The upcoming year will be telling if the boy can turn from a talented prospect to a world-class player.
Finally, Alliancebernstein L.P. increased its position in shares of Advanced Energy Industries by 17.9% in the 2nd quarter. The electronics maker reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.08.
Following the sale, the chief marketing officer now directly owns 65,450 shares of the company's stock, valued at $4,751,015.50. The stock of Tractor Supply Company (NASDAQ:TSCO) has "Hold" rating given on Tuesday, October 3 by KeyBanc Capital Markets.
On a one to five ratings scale where 1.0 indicates a Strong Buy, 2.0 indicates a Buy, 3.0 a Hold, 4.0 a Sell and 5.0 a Stong Sell. This buyback authorization permits the company to repurchase up to 22.2% of its stock through open market purchases.
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Finally, I think we can hope that the experts would look into the matter in a cautious way in the near future. As per Shearer’s words ‘At least now people have started to look for answers’.
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