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Ryanair to distribute Aer Lingus sale proceeds to shareholders

Reuters - UK Focus

(Corrects in headline and story text to show funds to be distributed via B-share scheme, not share buyback)

DUBLIN, Sept 24 (Reuters) - Ryanair is to distribute the 398 million euros ($445 million) it earned from the sale of its 30 percent stake in Aer Lingus (Other OTC: AELGF - news) to shareholders before the end of the year, the airline said on Thursday.

The company will distribute the funds via a B-share scheme which is subject to approval at an emergency general meeting, bringing the total funds returned by Ryanair to shareholders this year to 800 million euros. ($1 = 0.8934 euros) (Reporting by Conor Humphries; Editing by David Clarke and David Holmes)