Formal partial takeover offer of Airwork could be tabled by next week

Wed, 26 Oct 2016

By Edwin Mitson Oct. 26 (BusinessDesk) - Airwork Holdings, the Auckland-based aircraft services business, has told investors a formal partial takeover offer could be made as early as next week, provided conditions are satisfied or waived. Earlier this month Chinese company Zhejiang Rifa Holding Group (RIFA) announced it had entered a takeover lock-up deed with the major shareholders 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. Inte...

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