COMAIR has called off the
acquisition negotiations it
entered into earlier this year.
In April, Comair told its
shareholders it had entered
into negotiations to potentially
acquire a business which, if
successfully concluded, “may
have a material effect on
the price of the company’s
securities” (see TNW April 20).
But Erik Venter, ceo of Comair,
told TNW the acquisition had
since been called off because
“matters arose that the other
party still has to deal with
before the acquisition can be
reconsidered”.
He still could not give any
details about the business that
Comair was in talks with, but
confirmed that there were no
other acquisition talks taking
place at the moment.
Meanwhile, Comair is still
awaiting a court date to have
the matter of its compliance
in terms of foreign ownership
heard, as part of its ongoing
battle with the Air Services
Licensing Council (ASLC).
“We could be waiting for many
months before we get a date,”
Erik says.
Comair acquisition called off
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