SPAIN - TPG-led consortium to lower bid for Iberia

It is likely that the tightening of the credit markets resulted in a more conservative debt structure. Additionally, the airline's share price, which reached EUR 4.1 in March because of speculation of fierce competition between bidders, has decreased to EUR 3.24 this week. Lack of competition – the TPG-led consortium is the only party that has shown interest so far – is another factor influencing the possible bargaining for Iberia.

The auditing process of the airline's books will complete its first stage today. The prospective buyers are hoping to have access to all the due diligence material by the end of October, meaning a formal bid is only likely to be presented to regulator CNMV in November.

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• Topics
• Buyouts
• Southern Europe