Brazil's GOL to Go Private and Delist from Stock Market
GOL Linhas Aéreas Inteligentes has announced plans to go private as part of a corporate reorganisation process and intends to delist shares from the B3 Brazil Stock Exchange.
The restructuring process, pending approvals from shareholders, involves merging GOL Investment Brasil S.A. and GOL Linhas Aéreas Inteligentes S.A. into GOL Linhas Aéreas S.A., which is not listed and does not intend to be.
The merger "aims to reorganise the company's operations, generate synergies, and reduce costs,"
GOL outlined in a notice to the markets. The Brazilian carrier emerged from Chapter 11 bankruptcy protection earlier in the year. The proposed structure will keep Abra Group as the owner of 80% of New Gol Parent S.A.
Author's summary: GOL plans to go private and delist from the stock market.