FLC Group to sell off stake in Viet Nam’s Bamboo Airways

Bamboo Airways parent company FLC Group plans to sell its remaining stake in the carrier as part of its restructuring plan, the property and leisure conglomerate announced at its extraordinary general meeting on March 4 and in an accompanying statement. FLC Chairman Lê Bá Nguyên said that in 2023 the group plans to reshape around its core business areas with three main pillars - real estate, resorts, and merger and acquisition projects - while at the same time restructuring its debts in order “to keep the company running.” This means that “in the coming period, FLC will review and reevaluate all investments in subsidiaries and associated companies” and “is working with leading financial consultants to ensure maximum efficiency and benefits for the group as well as for shareholders,” he explained. “Particularly for the shares in Bamboo Airways Joint Stock Company, FLC plans to consider transferring this shareholding,” he added. For this to happen, “we need to develop a specific assessment plan with financial experts, then we can come up with a specific plan. Once there is a specific plan, we will issue an information disclosure for shareholders to know.”<br/>