Airwork to delist next week after Zhejiang Rifa takeover

Tue, 07 Nov 2017

By Rebecca Howard Nov. 8 (BusinessDesk) - Airwork Holdings will quit the NZX main board on Nov. 15 now that Rifa Jair Company, a unit of China's Zhejiang Rifa Holding, has exercised its compulsory acquisition rights in full takeover over the aviation services firm. Rifa made a full takeover for Airwork in September, offering shareholders $5.20 per share in what was a fait accompli having signed lock-up agreements giving it more than 90 percent, meaning it could automatically enforce Takeovers Code mop-up provisions. The Chinese company bu...

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