Airport Holdings Ltd’s Forced Acquisition of Air Mauritius Shares Upheld by Court

Supreme Court Judge Mary Jane Lau Yuk Poon upheld Airport Holdings Ltd’s acquisition of 9,429,896 Air Mauritius shares on October 13, 2021.

Despite a potential violation of Securities (Takeover) Rules 2010, Raj Ramlugun, who held 3,808 shares, failed to demonstrate harm or dishonest intent by Airport Holdings Ltd. As a result, the forced acquisition, priced at Rs 5.80 per share, was deemed valid.

This transaction had pushed the combined ownership of the government, Airport Holdings Ltd, and Airports of Mauritius Ltd to 91.69% of Air Mauritius shares.

Source: Le Mauricien