AirAsia to acquire 20% of Fly Asian Xpress
Tags :
Southeast Asia,
AirAsia
(CAPA) Air Asia signed a definitive agreement to subscribe 26.27 million of redeemable convertible preference shares (RCPS) of RM1 each in Fly Asian Xpress (FAX). This MYR26.7 million purchase provides AirAsia with a 20% holding in FAX. AirAsia, which will pay cash for the transaction, also has the right to acquire addition shares in FAX to bring its shareholding to 30%.
FAX is currently 80% owned by Aero Ventures Sdn Bhd (formerly known as Mangkin Masyhur Sdn Bhd), a company which both Dato' Anthony Francis Fernandes and Dato' Kamarudin Bin Meranun are substantial shareholders.
Date posted: 14-Sep-07
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AirAsia to acquire 20% of Fly Asian Xpress 
