Partial takeover of Airwork Holdings by China's Zhejiang Rifa unconditional

Mon, 13 Mar 2017

By Rebecca Howard March 14 (BusinessDesk) - A partial takeover of Airwork Holdings by Chinese group Zhejiang Rifa Holding Group has been declared unconditional and Rifa must now pay accepting shareholders within seven days. The $5.40 per share offer for 75 percent of the Auckland-based aircraft services business, which came after Rifa entered into a takeover lock-up deed with major shareholders last October, closed earlier this month. Rifa had received 94.7 percent shareholder acceptances, meaning scaling will occur. The offer was con...

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