Gol Linhas Aéreas Inteligentes S.A., the holding company of Gol Transportes Aereas and VARIG Linhas Aereas (2nd), initially informed its shareholders and the market in general that it was under discussions with Webjet Linhas Aéreas S.A.
Later the holding company announced the following:
“VRG Linhas Aereas S.A. (VARIG 2nd), its affiliated Company, executed a memorandum of understanding (MOU) with the controlling shareholders of Webjet Linhas Aereas S.A., (“WebJet”), for the acquisition of 100% of WebJet’s capital stock by VRG;
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;
The price to be paid for the referred acquisition shall be R$96,000,000.00 (ninety six million Reais), subject to certain adjustments prior to the closing date. WebJet’s enterprise value was appraised by the parties atR$310,700,000.00 (three hundred and ten million and seven hundred thousand Reais).”
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