Sponsored Listings:
Comair has called off the acquisition negotiations it entered into earlier this year.
In April, Comair told its shareholders it had entered into negotiations to potentially acquire a business which, if successfully concluded, “may have a material effect on the price of the company’s securities”.
But Erik Venter, CEO of Comair, told Tourism Update the acquisition had since been called off because “matters arose that the other party still has to deal with before the acquisition can be reconsidered”.
He still could not give any details about the business that Comair was in talks with, but confirmed that there were no other acquisition talks taking place at the moment.
Meanwhile, Comair is still awaiting a court date to have the matter of its compliance in terms of foreign ownership heard, as part of its ongoing battle with the Air Services Licensing Council (ASLC). “We could be waiting for many months before we get a date,” Venter says.
Source: tourismupdate.co.za
