China's RIFA signs takeover deed for aviation firm Airwork with major shareholder

Fiona Rotherham
Mon, 03 Oct 2016

By Fiona Rotherham Oct. 4 (BusinessDesk) - Chinese company Zhejiang Rifa Holding Group (RIFA) has entered a takeover lock-up deed with the major shareholders in specialist aviation company Airwork Holdings at $5.40 per share. Under the pre-bid deed, RIFA has agreed to make a conditional partial takeover offer for 75 percent of Airwork’s ordinary shares. Parties associated with non-executive director Hugh Jones hold 58.943 percent of the Auckland-based company. The shares jumped 18 percent to $5.20, having risen 30 percent in the past y...

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