Gol approves capital increase for Air France-KLM deal

Gol approves capital increase for Air France-KLM deal

Equity

The board of Brazilian airline Gol agreed to a BRL185.8m ($83m) capital increase late on Wednesday. Under the local-only offer, Gol will issue 6.8m shares at BRL27.4 each. That is a 96% premium to Thursday’s closing price. The level was based on the company’s estimated profitability, which “better reflects the intrinsic value of the Company’s activities” than the stock price which is depressed by bad market conditions, Gol said. Air France KLM is understood to be planning to subscribe to more th

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