Air France agrees to withdraw from the capital of Air Mauritius
Air France will soon no longer be a shareholder of Air Mauritius. The French national airline has agreed to sell all its shares (direct and indirect) to Airport Holdings Ltd (AHL), the new main shareholder of Air Mauritius, reports Défi Media.
Air France directly holds 2% of the Mauritian flag carrier's capital. Air France is also a shareholder of Air Mauritius Holding (11.2%), which until recently was the main shareholder of Air Mauritius (40.4%).
Air France will first sell its shares in Air Mauritius Holding Ltd, then those it holds directly in Air Mauritius. On both occasions, the sale will be made to AHL, at a rate of Rs 5.80 per share, for a total amount of Rs 15,179,168.4. On 15 October last year, AHL had already bought back the 9,429,896 shares that the State Investment Corporation (SIC) and Rogers held in Air Mauritius Holding. SIC and Rogers have also agreed in principle to sell their direct shares in Air Mauritius (3.6% and 3.4%).
Last month, the board of Air India also agreed in principle to the sale of its 2% shareholding and indirectly 8.8% shareholding (through Air Mauritius Holding). "Virtually, AHL already owns more than 65% of Air Mauritius," says Défi Media. As a reminder, it was on October 15 that the main manager of Mauritian airports decided to buy back the 19.3% of Air Mauritius shares held by small shareholders.
