GOL and Air France-KLM cooperation agreement approved

Dino D'Amore
By Dino D'Amore May 13, 2014 20:19

GOL and Air France-KLM cooperation agreement approved

GOL Linhas Aereas Inteligentes has announced that the antitrust authority (the General Superintendency of the CADE – Conselho Administrativo de Defesa Economica (CADE) published its decision granting unconditional approval for the exclusive long term strategic partnership for commercial cooperation between the Company and Air France-KLM executed on February 19, 2014. The approval may be reviewed by the Court of the CADE if it decides to do so within the next 15 days. The decision of the General Superintendency will become definitive once the 15-day period lapses.

Pursuant to the agreements of the strategic partnership, Air France-KLM will invest $100 million in GOL. This amount will comprise an investment in GOL shares for $52 million, which will represent an equity interest of approximately 1.5% in preferred shares of the Company. The terms and conditions of the share issuance will be approved by the board of directors of GOL, and will be more fully described in a Notice to Shareholder (Aviso aos Acionistas) that will be published after the decision of the board of directors. In addition, Air France-KLM will fund $48 million for purposes of enhancing the effectiveness of the strategic commercial partnership.

Dino D'Amore
By Dino D'Amore May 13, 2014 20:19
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