Brief: Qantas Announces Acquisition Of Remaining 80% Of Alliance Aviation Services

Alliance Aviation Services

04/05/2022 23:31

May 5 (Reuters) - Qantas Airways Ltd  QAN.AX :
    * TO ACQUIRE ALLIANCE AVIATION
    * REACHED AN AGREEMENT TO FULLY ACQUIRE ALLIANCE AVIATION
SERVICES
LTD
    * ALLIANCE SHAREHOLDERS RECEIVE QANTAS SHARES WORTH A$4.752
FOR
EACH ALLIANCE SHARE THEY HOLD
    * AGREEMENT WOULD SEE ALLIANCE BECOME A WHOLLY-OWNED PART OF
QANTAS GROUP
    * NO CHANGE TO QANTAS' ARRANGEMENTS WITH ALLIANCE AS A
RESULT OF
TODAY'S ANNOUNCEMENT GIVEN APPROVALS REQUIRED
    * QANTAS WOULD ISSUE NEW SHARES VALUED AT APPROXIMATELY
A$614
MILLION IN A TRANSACTION
    * TRANSACTION EXPECTED TO BE EPS ACCRETIVE FOR QANTAS
SHAREHOLDERS, BEFORE SYNERGIES
    * UNDER AGREEMENT, REMAINING 80% OF ALLIANCE TO BE ACQUIRED
THROUGH A SCHEME OF ARRANGEMENT

Source text for Eikon:  ID:nASX4PcRW4 
Further company coverage:  QAN.AX 

 ((Reuters.Briefs@thomsonreuters.com;))