Combination of Iberia and British Airways Sample Clauses

Combination of Iberia and British Airways. As explained above, the combination of Iberia and British Airways will be carried out through the merger of Iberia and BA Holdco with and into IAG (such merger being the subject matter of this Project), after the following preliminary transactions have been carried out (i) Iberia becoming the holding company of Iberia Operadora by hiving down its assets and liabilities to Iberia Operadora in return for a further issue of share capital by Iberia Operadora, which will become as a consequence successor of Iberia’s entire business and (ii) BA Holdco becoming the holder of all of the share capital of British Airways with the exception of the Iberia Shareholding. As a result of the merger, the shareholders of both Iberia and British Airways will become shareholders of IAG, which, subject to the nationality structures (as further described in section 1.4 below) and subject to the transactions relating to the cross shareholdings (as further described in section 1.3.3 below) will become the holding company of Iberia Operadora and British Airways. Thus, the preliminary transactions to be carried out prior to the merger, which is the subject matter of this Project, are:
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