Transactions (Chapter 10 Of Listing Requirements) : Non Related Party Transactions
|Subject||TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
AIRASIA BERHAD ("AIRASIA" OR "THE COMPANY") JOINT VENTURE BETWEEN AIRASIA AND SATS LTD. ON A GROUND HANDLING PARTNERSHIP
The Board of Directors (“Board”) of AirAsia wishes to announce that AirAsia today has entered into the following transactions (the “Transactions”) in relation to a proposed joint venture with SATS Ltd. (“SATS”) (the “Joint Venture”):-
a) share swap agreement to transfer 98% shares of Ground Team Red Sdn. Bhd., a wholly-owned subsidiary of AirAsia (“GTR Malaysia”) to Ground Team Red Holdings Sdn. Bhd., another wholly-owned subsidiary of AirAsia (“GTRH”) in exchange for 88.6% equity interest in GTRH. Contemporaneously, GTRH will acquire 80% equity stake in SATS Ground Services Pte. Ltd., currently a wholly-owned subsidiary of SATS (“SGS Singapore”) for SATS in exchange for 11.4% equity stake in GTRH; and
b) a share sale agreement for AirAsia to sell 38.6% of its shareholding in GTRH to SATS (the “SSA”).
Please refer to the attachment for further details.
This announcement is dated 30th day of October, 2017.
|Company Name||AIRASIA BERHAD|
|Date Announced||30 Oct 2017|
|Category||General Announcement for PLC|
- Bursa_Announcement_on_GTR_JV__(30_Oct_2017)_(FINAL).pdf (Size: 306,031 bytes)