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SÃO PAULO, Brazil (Reuters) – Azul announced on Wednesday that the company's second-largest shareholder company, Hainan Airlines, had been priced at $ 16.15 per ADS.
The company said earlier that Hainan would divest its entire stake in the Brazilian airline in a foreign operation involving the sale of 19.38 million American Depositary Shares (ADS), or 58, 14 million euros. actions. [nL1N1TT0A3]
"The international offering is part of Hainan's strategic plans, which include capitalization initiatives, selected divestitures, as well as investments in airlines and the aviation services industry," said the airline. Brazilian.
"Azul and Hainan are not expecting the proposed international offer to bring about any significant change in the strategic plan or commercial relationship between the two companies," Azul said.
The settlement of the Hainan Offer is scheduled for June 29 and can move about $ 313 million.
Shares of Blue on the New York Stock Exchange closed Wednesday at $ 16.51, down 4.6%.
Hainan is controlled by the HNA group, a Chinese conglomerate that has sold overseas real estate and some of its largest financial and strategic investments after a wave of $ 50 billion in acquisitions over the past two years.
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(By Alberto Alerigi Jr.)
Copyright Thomson Reuters 2018
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