Turkish Airlines has confirmed that its bid for the acquisition of a minority stake in Air Europa has been accepted.
In a public disclosure announcement, Turkish disclosed that the transaction would involve an investment of €300 million (R6,18 billion). The majority of the investment will be in the form of a capital increase, with the exact percentage of the minority stake to be determined following technical and financial adjustments.
The transaction 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.
