GOL – antitrust authority approves strategic partnership with Air France-KLM

GOL reported that the antitrust authority (the General Superintendency of the CADE – Conselho Administrativo de Defesa Economica (“CADE”) deceided to grant unconditional approval for the exclusive long term strategic partnership for commercial cooperation between the Company and Air France-KLM executed on February 19th, 2014. The approval may be reviewed by the Court of the CADE if it decides to do so within the next 15 days. The decision of the General Superintendency will become definitive once the 15-day period lapses. Pursuant to the agreements of the strategic partnership, Air France-KLM will invest $100m in GOL. This amount will comprise an investment in GOL shares for $52m, which will represent an equity interest of approximately 1.5% in preferred shares of the Company. The terms and conditions of the share issuance will be approved by the board of directors of GOL, and will be more fully described in a Notice to Shareholder (Aviso aos Acionistas) that will be published after the decision of the board of directors. In addition, Air France-KLM will fund $48m for purposes of enhancing the effectiveness of the strategic commercial partnership.

Email Post to a Friend Email Post to a Friend

Leave a Reply