Brazil's GOL to Go Private
GOL Linhas Aéreas Inteligentes plans to go private as part of a corporate reorganisation process and delist shares from the B3 Brazil Stock Exchange.
The restructuring process, pending approvals, includes the merger of GOL Investment Brasil S.A. and GOL Linhas Aéreas Inteligentes S.A. into GOL Linhas Aéreas S.A., which is not listed.
The merger "aims to reorganise the company's operations, generate synergies, and reduce costs."
GOL emerged from Chapter 11 bankruptcy protection earlier this year. The proposed structure will maintain Abra Group as the owner of 80% of New Gol Parent S.A.
Author's summary: GOL plans to go private and delist from the stock market.