Posted on: 08 July 2011 by Ross McSweeny
GOL Linhas Aéreas Inteligentes has announced to its shareholders that its affiliated company, VRG Linhas Aéreas, has executed a Memorandum of Understanding (MoU) with the controlling shareholders of Webjet Linhas Aéreas for the acquisition of 100% of WebJet’s capital stock.
The acquisition is subject to, among other conditions, the conclusion of technical and legal due diligence of WebJet’s activities and assets, the negotiation and execution of definitive documents by the parties, and the approval from the relevant government authorities.
GOL says the price to be paid for Webjet will be R$96 million, subject to certain adjustments prior to the closing date.
Photo: Mariordo Ortiz