PETALING JAYA: AirAsia X Bhd
(AAX) has obtained clearance from Bursa Malaysia for the approval of its EGM circular, detailing its proposed acquisition of Capital A Bhd’s aviation business.
In a statement, AAX said this brings the company closer to completing the acquisition of AirAsia Aviation Group Ltd and AirAsia Bhd to form a new aviation group.
“Following this approval, AAX will convene an EGM in approximately three weeks’ time from the date of despatch of EGM circular, at a date to be announced soon, where shareholders’ approval will be sought for the proposed acquisition.”
AAX said Bursa Malaysia’s clearance of the circular and related share listings represents a pivotal step towards the completion of this transformative acquisition.
“Once finalised, the new aviation group will operate with a more streamlined structure, enhanced market reach, and improved operational synergies, driving long-term growth, profitability and increased returns for shareholders.
AAX announced the acquisition plan in April and involves the acquisition of Capital A’s aviation business for RM6.8bil, in exchange for RM3bil worth of AAX shares, as well as the novation of a RM3.8bil debt owed by the aviation business to Capital A.
