Air Mauritius
About
Established in 1967, Air Mauritius is the national airline of Mauritius and is based at Sir Seewoosagur Ramgoolam International Airport in the capital Port Louis. Air Mauritius is the leading scheduled carrier operating in the Indian Ocean, serving a network covering Asia, Africa, Europe and Australia. The carrier is majority-owned by Air Mauritius Holdings Ltd, which in turn is owned wholly-owned by the Mauritian government.
Air Mauritius announced its board "took the decision to place the Company under voluntary administration" from 22-Apr-2020, due to the impact of the coronavirus pandemic.
On 29-Sep-2021, Air Mauritius announced it exited voluntary administration and secured a government loan to support increasing capacity to meet demand.
Airport Holdings' acquired 9.43 million shares in Air Mauritius from The State Investment Corporation Limited and Rogers and Company Limited on 13-Oct-2021, which gave Airport Holdings effective control of Air Mauritius.
In Feb-2022, Airport Holdings Limited (AHL) announced the closing of its mandatory offer to acquire the remaining shares in Air Mauritius. AHL received valid acceptances for 121.6 million voting shares of Air Mauritius, representing a total consideration of MUR705.3 million (USD16.1 million). Details include:
- AHL did not have any direct shareholding in Air Mauritius before the mandatory offer, while those acting in concert controlled 71.45% of Air Mauritius;
- As a result of the mandatory offer, AHL holds 94.04% of Air Mauritius' total outstanding voting shares and thereby satisfies the takeover threshold conditions. AHL is now entitled to acquire the shares of the dissenting shareholders of Air Mauritius;
- AHL intends to proceed with the compulsory acquisition of the shares of all dissenting shareholders of Air Mauritius.
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