British Airways today welcomed the decision by the Secretary of State for Trade and Industry to clear the offer and not to refer the proposed acquisition of the British Regional Air Lines Group (BRAL) to the Competition Commission.
The recommended cash offer of 120p per share values the entire issued share capital of BRAL at approximately £78 million.
By the initial offer closing date on April 18, British Airways had received valid acceptances from BRAL shareholders representing 79.9 per cent of the share capital of the Group. The offer period has been extended to May 9.
Roger Maynard, Director of Investments and Joint Ventures, said: “We are very pleased that the deal is not being referred to the Competition Commission. The proposed purchase of BRAL underlines our commitment to services in the UK regions and further demonstrates the importance attached to regional customers and employees.”
British Airways plans to combine the BRAL Group operations with West Country-based subsidiary Brymon Airways.