Capital A and AirAsia Group, the newly incorporated entity that will eventually be the holding company of AirAsia X, announced it has signed a conditional sale and purchase agreement for Capital A’s strategic divestment and AirAsia Group’s strategic acquisition of its aviation businesses. This agreement, approved by the boards of Capital A and AirAsia X, is expected to catalyse AirAsia to its next growth phase to become the world’s first low-cost network carrier and redefine the aviation industry landscape.
Under the terms of the agreement and subject to requisite approvals, the Transaction includes two parts:
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The divestment of AirAsia Aviation Group Limited (AAAGL), consisting of AirAsia subsidiaries in Thailand, Indonesia, the Philippines and Cambodia, will be fulfilled through the issuance of new AirAsia Group shares to Capital A worth RM3 billion. Following this divestment, Capital A will immediately distribute-in-specie RM2.2 billion worth of the…
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