RIO DE JANEIRO, BRAZIL - Gol (GOLL4) has bought MAP Linhas Aéreas, considered the 5th largest airline in Brazil, in a R$28 (US$5.5) million deal, according to a notice sent to the market on Tuesday, June 8.
According to the disclosure, the payment will be made in 100,000 shares at R$28 per unit and R$25 million in cash to be paid in 24 monthly installments. Gol will also undertake up to R$100 million of MAP's financial commitments.
Founded in 2011, the acquired airline owns a fleet of seven 70-seat ATR aircraft . . .
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