FastJet shareholders back share sale
Shareholders in FastJet have approved the sale of a 28% stake to Johannesburg-based Solenta Aviation Holdings. The company will now proceed, as planned, with the listing of 239m new shares Jan 24. Solenta will take 95.6m of the total and the remainder will be issued as a share placement. The transactions, which take FastJet to a total of 335.8m shares, are expected to generate gross proceeds of $28.8m. Solenta, which operates a fleet of 49 aircraft, is a commercial aviation group that holds 5 African air operator’s certificates and has strategic alliances, or AOCs pending, in a further 7 African countries. Under the agreement, Solenta will receive 95.6m FastJet shares and 2 board nominations. In return, Solenta will provide FastJet with 3 wet-leased aircraft and other services over the next 5 years. <br/>
https://portal.staralliance.com/imagelibrary/news/hot-topics/2017-01-24/unaligned/fastjet-shareholders-back-share-sale
https://portal.staralliance.com/imagelibrary/logo.png
FastJet shareholders back share sale
Shareholders in FastJet have approved the sale of a 28% stake to Johannesburg-based Solenta Aviation Holdings. The company will now proceed, as planned, with the listing of 239m new shares Jan 24. Solenta will take 95.6m of the total and the remainder will be issued as a share placement. The transactions, which take FastJet to a total of 335.8m shares, are expected to generate gross proceeds of $28.8m. Solenta, which operates a fleet of 49 aircraft, is a commercial aviation group that holds 5 African air operator’s certificates and has strategic alliances, or AOCs pending, in a further 7 African countries. Under the agreement, Solenta will receive 95.6m FastJet shares and 2 board nominations. In return, Solenta will provide FastJet with 3 wet-leased aircraft and other services over the next 5 years. <br/>
