News


Transactions (Chapter 10 Of Listing Requirements) : Non Related Party Transactions

BackOct 30, 2017
Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description

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.



 

 


Announcement Info

Company Name AIRASIA BERHAD
Stock Name AIRASIA
Date Announced 30 Oct 2017
Category General Announcement for PLC
Reference Number GA1-30102017-00069

Attachments

  1. Bursa_Announcement_on_GTR_JV__(30_Oct_2017)_(FINAL).pdf (Size: 306,031 bytes)