 |
| Mandala Airbus A319 |
JAKARTA - Mandala Airlines has authorized the release of its stock transactions to the Saratoga Group as a financial investor and Tiger Airways as the strategic corporate investors.
The signing of a conditional sale and purchase agreement and other legal documents and other related commercial has been done on Friday, September 23, 2011.
Furthermore, Saratoga will have a majority stake in Mandala by 51 percent, and Tiger Airways will have a stake of 33 percent. While the rest will be owned by unsecured creditors and holders of old shares.
With the signing of the agreement, all parties have approached the completion of restructuring Mandala, a due diligence period has lasted for nearly five months. Currently, the Mandala is in the process of restructuring by following the rules of Indonesian legislation.
The signing of a conditional sale and purchase agreement and other legal documents and other related commercial has been done on Friday, September 23, 2011.
Furthermore, Saratoga will have a majority stake in Mandala by 51 percent, and Tiger Airways will have a stake of 33 percent. While the rest will be owned by unsecured creditors and holders of old shares.
With the signing of the agreement, all parties have approached the completion of restructuring Mandala, a due diligence period has lasted for nearly five months. Currently, the Mandala is in the process of restructuring by following the rules of Indonesian legislation.
No comments:
Post a Comment