ANA Holdings becomes majority shareholder in Peach

ANA Holdings, First Eastern Aviation and Innovation Network Corporation of Japan (INCJ) agreed (24-Feb-2017) to change Peach's capital structure and concluded a share transfer agreement which is expected to take effect on 10-Apr-2017. Under the agreement, ANA Holdings will acquire 28.3% of Peach shares from First Eastern and INCJ for JPY30.4 billion (USD270.6 million), increasing ANA Holdings' shareholding in the LCC from 38.7% to 67.0%. First Eastern will hold 17.9% share and INCJ will hold 15.1% share in Peach. The companies believe the best way to accelerate the growth of Peach in its next phase of development is through consolidation with the ANA Group, leveraging Peach's corporate culture and brand with ANA's record of airline expansion. Peach will expand further into domestic and overseas markets. [more - original PR - English/Japanese]