aviation: Smartwings takeover: Israir submits updated offer to Chinese shareholder

, aviation: Smartwings takeover: Israir submits updated offer to Chinese shareholder


For some time now, the Israir Group has been trying to get a stake in the Czech airline Smartwings. A full takeover is also in the offing. As part of a stock exchange announcement, it has now been informed that an updated offer will be sent to the Chinese 49.92 percent shareholder Citic.

Through Rainbow Wisdom Investments, Citic China has a stake in the Smartwings Group to the extent mentioned above. By June 27, 2023, Israir will submit an updated offer to acquire the shares while making a significant number of benefits to the Chinese shareholder.

Israir is also still in negotiations with the Czech shareholders, who own the majority of Smartwings. According to the stock exchange announcement, it is assumed that the ongoing negotiations will lead to purchase agreements. In addition, the Russian airline points out that it is currently not possible to assess whether it will be possible to gain control of Smartwings or not. The 50.08 percent majority of the Czech airline group, which once included CSA, is held by EH Group, UG Jet 2 and Unimex Group.

The takeover attempt had already lasted almost a year, and in July 2022 Israir issued a stock market announcement for the first time, in which it was informed that it was attempting to buy a European airline. At that time it was not mentioned which carrier was involved. It was only officially confirmed in November 2022 that these are Smartwings.

The post Smartwings acquisition: Israir submitted updated offer to Chinese shareholder appeared first on Aviation.Direct.

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Author: Manuella LISET