Indigo to initially take 49% stake in Wow Air
Icelandic LCC WOW Air has disclosed that US private equity firm Indigo Partners is looking at an initial 49% investment, although this could be increased at a later date. Indigo Partners emerged as a potential investor in WOW Air in November 2018, after Icelandair’s plans to acquire its rival collapsed. At the time, an investment value of up to $75m was announced, although no details were given about the percentage shareholding that Indigo was planning to take. In a Jan. 9 letter to bondholders, WOW Air founder and CEO Skuli Mogensen gave further details about the planned deal. “The initial shareholding of Indigo Partners will be 49%. Subject to foreign ownership regulations, Indigo Partners could obtain additional equity should the conversion option be exercised during the tenor of the loan,” Mogensen said.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-01-17/unaligned/indigo-to-initially-take-49-stake-in-wow-air
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Indigo to initially take 49% stake in Wow Air
Icelandic LCC WOW Air has disclosed that US private equity firm Indigo Partners is looking at an initial 49% investment, although this could be increased at a later date. Indigo Partners emerged as a potential investor in WOW Air in November 2018, after Icelandair’s plans to acquire its rival collapsed. At the time, an investment value of up to $75m was announced, although no details were given about the percentage shareholding that Indigo was planning to take. In a Jan. 9 letter to bondholders, WOW Air founder and CEO Skuli Mogensen gave further details about the planned deal. “The initial shareholding of Indigo Partners will be 49%. Subject to foreign ownership regulations, Indigo Partners could obtain additional equity should the conversion option be exercised during the tenor of the loan,” Mogensen said.<br/>
