June 11, 2018 / 1:37 PM / 6 months ago

Norwegian Air seeks clarifications on M&A proposals

A satellite antenna is seen on the roof of the Norwegian Airways Boening 737-800 at Berlin Schoenefeld Airport, Germany, April 2, 2015. REUTERS/Pawel Kopczynski

OSLO (Reuters) - Norwegian Air (NWC.OL) is seeking more details from companies that have proposed mergers, acquisitions and other forms of deals after British Airways-owner IAG (ICAG.L) took a stake in the budget carrier earlier this year, the Oslo-listed firm said on Monday.

Norwegian Air reiterated it had been approached by “several parties” seeking potential deals, including mergers, share acquisitions and other forms of transactions and cooperation.

“(Norwegian) is seeking further information and clarifications in a number of areas so that it can evaluate such proposals to determine whether they provide sufficient basis for entering into specific discussions,” the budget carrier said.

“As at the date hereof, the company has not entered into any agreements or specific negotiations in relation to the received indications,” it added.

IAG in April took a 4.6-percent stake in the carrier, and Norwegian later said it had rejected two non-binding offers from the firm. There has been no legally binding offer from IAG, it said on Monday.

Reporting by Terje Solsvik, editing by Gwladys Fouche

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