Iberia entered into a hedging transaction with Nomura International to protect its share value in Amadeus IT Holding.
International Airlines Group, which owns Iberia, said the transaction was taken to protect the value of its entire 7.5 percent interest in Amadeus, a global leader in technology and distribution solutions for the travel and tourism industry.
The hedging deal allows Iberia to protect and lock in the current value of its 33,562,331 shares in Amadeus, while also benefiting from any share price appreciation.
In connection with the transaction, Nomura and Morgan Stanley, as joint book-runners, are managing a sale of approximately 29.8 million Amadeus shares through an accelerated book-building process.
An underwriter builds a book by accepting orders from fund managers indicating the number of shares they desire and the price they are willing to pay.