Overview

• Gol’s board approved a restructuring to incorporate Gol Linhas Aéreas Inteligentes and Gol Investment Brasil into privately held GLA, with a ratio of 1 GLA common share per Gol common share and 35 GLA common shares per Gol preferred share.
• Extraordinary shareholder meetings are set for November 4 to vote on the incorporation, which would remove Gol from B3’s Level 2 listing if approved.
• Investors will be offered a public tender offer to exit or may remain as owners of the private company, with dissenters’ withdrawal rights and a condition allowing the controller to cancel the deal if the tender outlay exceeds R$47.25 million.
• An independent committee of directors was formed under CVM Guidance Opinion 35 to negotiate terms, and the company reiterates the deal requires corporate and regulatory clearances before closing.
• Separately, Abra applied to Chile’s DGAC for an AOC for NG Servicios Aéreos in Santiago to operate non-regular charter and ACMI flights serving Abra carriers and other airlines.