Tiger Airways completes 33% investment in Mandala airlines
The Jakarta Post, Jakarta | Tue, 02/07/2012 11:55 AM
Tiger Airways Holdings Limited (Tiger Airways) announced the completion of its 33.0% investment in the Indonesian firm PT Mandala Airlines (Mandala) in Singapore, Tiger Airways CEO Chin Yau Seng said on Tuesday.
Tiger Airways’ investment in Mandala will be held through its wholly-owned subsidiary in Singapore, Roar Aviation Pte. Ltd.
Mandala has undergone a financial restructuring process in accordance with Indonesian law. The largest shareholder in the restructured Mandala will be the Saratoga group, which will hold a 51.3% stake. The remaining 15.7% will be held by the previous shareholders and creditors of Mandala. (nfo)
