China's Rifa reaches 59% acceptances of Airwork in partial takeover

Sun, 18 Dec 2016

By Sophie Boot Dec. 19 (BusinessDesk) - Zhejiang Rifa Holding Group said it has acceptances for 59 percent of Airwork Holdings in its partial takeover of the Auckland-based aircraft services business. Earlier this month, the Chinese group set out its bid for the partial takeover, telling shareholders it would seek to grow Airwork's presence in emerging markets such as in Asia and Latin America. Rifa entered a takeover lock-up deed with major shareholders at $5.40 per share as of October. Interests associated with non-executive directo...

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