PAL targets stake sale to strategic investor by mid-year
Philippine Airlines could close a deal to sell up to 40% of the carrier to a foreign strategic investor within H1. “We’re targeting first half of this year… up to 40% stake, that’s the maximum we can offer. As per the law, foreigners can own only up to 40%,” the carrier’s president and COO Jaime Bautista said Wednesday. In a stock exchange disclosure, PAL clarified that it has yet to reach any definitive agreement with parties that have signified interests. It adds that it has “always been receptive to possible strategic investor participation” and hence continues to review and considers proposals from various interested parties. PAL has for years been trying to secure a strategic investor to help with its next stage of growth. Bautista has however said that things have progressed slower due to the challenging operating environment. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-01-10/unaligned/pal-targets-stake-sale-to-strategic-investor-by-mid-year
https://portal.staralliance.com/cms/logo.png
PAL targets stake sale to strategic investor by mid-year
Philippine Airlines could close a deal to sell up to 40% of the carrier to a foreign strategic investor within H1. “We’re targeting first half of this year… up to 40% stake, that’s the maximum we can offer. As per the law, foreigners can own only up to 40%,” the carrier’s president and COO Jaime Bautista said Wednesday. In a stock exchange disclosure, PAL clarified that it has yet to reach any definitive agreement with parties that have signified interests. It adds that it has “always been receptive to possible strategic investor participation” and hence continues to review and considers proposals from various interested parties. PAL has for years been trying to secure a strategic investor to help with its next stage of growth. Bautista has however said that things have progressed slower due to the challenging operating environment. <br/>
