Loading
6-Apr-2010 8:48 AM

All Nippon Airways to merge Air Japan Co and ANA & JP Express Co

All Nippon Airways Board of Directors announced (02-Apr-2010) plans to merge two of its consolidated subsidiaries, namely Air Japan Co (AJX) and ANA & JP Express Co (AJV), as follows:

  • Merger schedule: Approval of AJX/AJV merger expected to be approved at EGM, with the merger date scheduled to become effective on 01-Jul-2010, subject to necessary approvals;
  • Method of merger: Will be an acquisition and merger, with AJX the surviving company and AJV to be dissolved;
  • Allocation of shares: ANA acquired the AJV shares held by Japan Post Service Co Ltd, Nippon Express Co Ltd and Mitsui O.S.K. Lines Ltd on 01-Apr-2010. As a result, as of the scheduled effective date, both companies in the merger will become wholly-owned subsidiaries of ANA, and there will be no issue of new shares or payment of funds resulting from the merger;
  • Post merger status of combined airlines: The company will be named Air Japan Co, with capitalisation of JPY50 billion. [more]

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More