13 May 2014
GOL Linhas Aereas Inteligentes S.A. (NYSE: GOL) said that the antitrust authority (the General Superintendency of the CADE Conselho Administrativo de Defesa Economica) has published its decision granting unconditional approval for the exclusive long term strategic partnership for commercial cooperation between the company and Air France-KLM executed on February 19, 2014.
The approval may be reviewed by the court of the CADE if it decides to do so within the next 15 days. The decision of the general superintendency will become definitive once the 15-day period lapses.
According to the strategic partnership agreements, Air France-KLM will invest USD100m in GOL. This amount will comprise an investment in GOL shares for USD52m, which will represent an equity interest of approximately 1.5 percent in preferred shares of the company. The terms and conditions of the share issuance will be approved by the board of directors of GOL.
GOL Linhas Aereas Inteligentes S.A. offers around 910 daily flights to 65 destinations in 10 countries in South America, Caribbean and the United States under the GOL and VARIG brands, using a young, modern fleet of Boeing 737-700 and 737-800 Next Generation aircraft, the safest, most efficient and most economical of their type.