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Gala-led consortium considers bid for Iberia16/11/2007. Source: AltAssets. 
 A consortium led by Spanish private equity firm Gala Capital has approached Spanish flag carrier Iberia. The group is seeking access to Iberia's books. Gala indicated that it may pay in the range of €3.60 to €3.90 per share, valuing the company in the €3.6-3.9bn range.
It is not clear whether or not the consortium will actually submit a bid. It depends on the due diligence.
Gala's consortium includes several Spanish banks.
The group is reportedly facing competition from rival consortia, one led by TPG and including Ibera shareholder British Airways, and another led by Jose Maria Castellano.
Copyright © 2007 AltAssets
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