GOL Requests Anac Approval For Corporate Reorganization
SAO PAULO, Brazil, July 30 /PRNewswire-FirstCall/ — GOL Linhas Aereas Inteligentes S.A. (“GOL”, a listed company enrolled under CNPJ No. 06.164.253/0001-87, N.I.R.E. 35.300.314.441, Bovespa: GOLL4 and NYSE: GOL), the parent company of Brazilian airlines GOL Transportes Aereos S.A. (“GTA”) and VRG Linhas Aereas S.A. (“VRG”), in compliance with Paragraph 4, Article 157, Law no. 6.404/76 and CVM Instruction no. 358/02, announces that it today submitted to the National Civil Aviation Agency (Anac) a request for authorization for a corporate restructuring of its subsidiaries, GTA and VRG (“Reorganization”), to combine them into a single airline company (“Airline Company”).
The acquisition of VRG by GTI S.A., a wholly-owned subsidiary of GOL, was approved by the Brazilian Antitrust Agency (Cade) on June 25, 2008.
The proposed Reorganization, which aims to improve GOL’s operational structure, will provide more efficient air transportation services through the integration of GTA and VRG’s operations as the company explores synergies, broadens and improves service offerings.
The proposed Reorganization will simplify the corporate structure of GOL’s subsidiaries, maximizing administrative efficiencies, optimizing revenues and reducing financial and operational costs, besides greater operational flexibility.
Under the proposed Reorganization, the Airline Company will respect VRG and GTA’s current rights and obligations, maintaining the “GOL” and “VARIG” brands.
The effective consummation of the Reorganization is dependent upon Anac’s approval, under the terms of Article 186 of the Brazilian Aeronautics Code and other preceding conditions. GOL will continue to release information regarding Anac’s decision and all progress with the proposed Reorganization.
About GOL Linhas Aereas Inteligentes S.A.
GOL Linhas Aereas Inteligentes S.A. is the parent company of Brazilian airlines GOL Transportes Aereos S.A. and VRG Linhas Aereas S.A. GTA offers over 640 daily flights to 56 destinations connecting the most important cities in Brazil as well as the main destinations in South America. VRG offers over 120 daily flights to 14 destinations in Brazil.
GOL Linhas Aereas Inteligentes S.A.
CONTACT: GOL IR: 55-11-3169-6800, ri@golnaweb.com.br