News


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

BackAug 14, 2018
Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description

SALE OF 25% ORDINARY SHARES IN AAE TRAVEL PTE LTD ("JV COMPANY") BY AIRASIA EXP PTE LTD ("AIRASIA EXP"), A WHOLLY OWNED SUBSIDIARY OF AIRASIA GROUP BERHAD ("AIRASIA" OR "THE COMPANY") ("TRANSACTION")

On behalf of the Board of Directors of AirAsia (“Directors”), we wish to announce that AirAsia Exp and AirAsia Berhad (“AAB”) (both wholly owned subsidiary of AirAsia) have executed a Share Purchase Agreement (“SPA”) with Expedia Southeast Asia Pte. Ltd. (“Expedia SEA”) and Expedia Inc (“Expedia”) on 14 August 2018 to sell AirAsia Exp’s entire shareholding in the JV Company which is 6,144,279 ordinary shares constituting approximately 25% of the total issued and outstanding shares to Expedia for a cash consideration sum of USD60,000,000 (or MYR240,000,000 at the exchange rate of USD1.00: MYR4.00) (“Purchase Consideration”), net of the concurrent purchase of AirAsiaGo.com domain names and related assets from the JV Company by Travel360 Sdn Bhd (“Travel360”) (a wholly owned subsidiary of AirAsia). In connection with the SPA, AirAsia Exp, AAB and/or Travel360 have also entered into certain agreements with Expedia, Expedia Inc and/or one minority shareholder of the JV Company, as the case may be:

  1. Deed of Termination;
  2. Asset Transfer Agreement;
  3. Private Label and Co Brand Agreement; and
  4. Amended and Restated Ticketing Agreement,

(collectively, “Transaction Documents”).

Please refer to the attachment for full details of the Proposed Disposal.

This announcement is dated 14 August 2018.

 


Announcement Info

Company Name AIRASIA GROUP BERHAD
Stock Name AIRASIA
Date Announced 14 Aug 2018
Category General Announcement for PLC
Reference Number GA1-14082018-00056

 

Please refer attachment below.

Attachments

  1. AAGB-Proposed_Disposal.pdf (Size: 136,826 bytes)