TAP, Menzies Aviation and Groundforce signed subscription agreement
Source: TAP The signing of the agreement is a decisive step towards the recovery of Groundforce and strengthening confidence in the company's future TAP, Menzies Aviation and Groundforce signed a Subscription Agreement with a view to the recovery and revitalisation of Groundforce. This agreement is the culmination of a long and very demanding process to select an investor capable and committed to the recovery of Groundforce, and Menzies Aviation has always shown interest in this goal throughout the various stages of the process. The Agreement now entered into sets out the general terms and conditions of Groundforce's turnaround plan. After obtaining the necessary authorisations and consents, the recovery plan must be submitted by the Insolvency Administrators for consideration, discussion and [...]