Shares in low-cost service Wizz Air fell by greater than 5 per cent in early buying and selling this morning as Indigo Companions mentioned it could divest half of its stake within the airline.
The US personal fairness agency, which additionally owns stakes in American Frontier Airways and Chilean low-cost airline JetSmart, bought simply over 7.69 million shares in a putting.
The shares had been bought to institutional traders by means of an accelerated bookbuild at £52 every, elevating gross proceeds of round £400 million.
Following completion of the putting, Indigo will maintain 7.three million shares in Wizz Air, down from 15 million, or a stake of 17.5 per cent.
The share putting is because of be accomplished by Thursday, based on Barclays Financial institution, which is appearing as the worldwide co-ordinator on the deal.
Wizz Air mentioned it is not going to obtain any proceeds from the transaction.