Chinese group sets out Airwork offer to shareholders

Thu, 08 Dec 2016

By Edwin Mitson Dec. 8 (BusinessDesk) - Zhejiang Rifa Holding Group has set out its bid for a partial takeover of Airwork Holdings, the Auckland-based aircraft services business, telling shareholders that it will seek to grow Airwork's presence in emerging markets such as Asia and Latin America. In October, the Chinese group announced it had entered a takeover lock-up deed with major shareholders at $5.40 per share. Interests associated with non-executive director Hugh Jones hold 54 percent the shares on issue, so the deal can proceed re...

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