Azul Closes Acquisition of TwoFlex
Source: Azul Azul S.A. “Company” (B3: AZUL4, NYSE: AZUL) announces today the closing of the acquisition of Two Taxi Aéreo Ltda “TwoFlex”. Payment will be made in up to 30 monthly installments, subject to certain financial and operating conditions, and a final payment of up to R$30 million, which shall be deposited in escrow as collateral in favor of the Company for a determined period. The total purchase price will be R$123 million. The transaction was approved without restrictions by the Brazilian Administrative Council for Economic Defense (CADE – Conselho Administrativo de Defesa Econômica) on March 27, 2020. TwoFlex is a domestic airline based in Jundiaí, Brazil. It was founded in 2013 and offers regular passenger and cargo service to [...]