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Article: Varig sells logistics and maintenance units.(Brief Article)
- Article from:
- Airline Industry Information
- Article date:
- January 12, 2006
CopyrightCOPYRIGHT 2006 M2 Communications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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AIRLINE INDUSTRY INFORMATION-(C)1997-2006 M2 COMMUNICATIONS LTD
Brazilian airline Varig (VAGV4.SA) has sold its logistics and maintenance units to Portugal's TAP and the US-based private equity fund MatlinPatterson Global Opportunities LP.
Varig has reportedly struggled to emerge from bankruptcy protection. According to Reuters, the final price of USD72.2m for VarigLog and Varig Engenharia e Manutencao is USD10m more than previously agreed. TAP is also aiding Varig in making a rescue plan.
The Brazilian carrier will use some of the ...