Philippines-based airline Cebu Air announced the acquisition of local operations of Tiger Airways, based in Singapore, in a total buyout made for $15 million.
Reports say Cebu Pacific first announced the deal in a teleconference this week. The transaction includes the acquisition of 40 percent of the company in addition to the 60 percent currently owned by TigerAir Philippines executives.
The merger comes just days after TigerAir Singapore and Cebu Pacific announced a joint venture to take over Tiger Airways and expand throughout Asia, Australia, India and the Middle East, according to the parties.
Full Content: PhilStar
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Kenya’s Competition Authority Proposes Tougher Regulations on Big Tech
May 30, 2024 by
CPI
KKR Secures EU Antitrust Approval for $24 Billion Acquisition of Telecom Italia’s Fixed-Line Network
May 30, 2024 by
CPI
European Court Sides with Tech Giants in Italian Regulatory Dispute
May 30, 2024 by
CPI
US Steel and Nippon Steel Secure International Approvals for $14.9B Merger
May 30, 2024 by
CPI
EU Watchdog Mandates Boardroom Accountability for AI in Banks
May 30, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI