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Airport Holdings sets deadline to respond to mandatory offer

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Airport Holdings Ltd (AHL) – the largest shareholder of Air Mauritius – has set November 22 as deadline to respond to its mandatory offer to acquire all of the flag carrier’s shares at a price of Rs5.80.

The offer, which opened on November 3, will be kept open for 20 business days instead of the 35 days stipulated under Stock Exchange of Mauritius (SEM) takeover rules.

Shares will be transferred on November 24 and AHL will pay the purchase price by November 29.

AHL has already acquired 9,429,896 shares in Air Mauritius Holding Ltd from the State Investment Corporation Limited and Rogers and Company Limited on October 13, 2021.

Following this transaction, the government, AHL, Air Mauritius Holding Ltd, Airports of Mauritius Co Ltd, and the State Investment Corporation Limited together have now exceeded a 50% shareholding in Air Mauritius Ltd.

Air France is expected to take a final stance on whether to sell its shares detained in Air Mauritius (11.2%) at a Board meeting scheduled next week.

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