Abra, Gol’s indirect controlling shareholder, has delivered notice to Azul terminating discussions on a possible business combination that was being negotiated, according to a filing.
- Abra said the parties have not made meaningful progress in the negotiations for several months due to Azul’s focus on its Chapter 11 case, according to a letter dated Sept. 25 included in the filing
- Abra said it continues to believe in the merit of a business combination between Azul and Gol, and is willing to engage with relevant stakeholders: letter
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