Air Transport World

Marriage of Opposites in Brazil.(News Briefs)(Gol Transportes Aereos acquires Varig)(Brief article)

Gol reached an agreement March 28 to acquire Varig from VarigLog and Volo for $320 million consisting of $98 million in cash, $177 million in Gol stock and the assumption of $45 million in Varig debt, subject to government approval.

The purchase brings together Latin America's leading LCC and one of the grand dames of the industry, fallen on hard times. …

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