MNG Airlines and Golden Falcon terminate proposed business combination

Source: MNG Airlines

Turkish freighter operator MNG Airlines has terminated its proposed business combination agreement with the specialised private equity company Golden Falcon Acquisition.

MNG and Golden Falcon had disclosed the proposed combination in December last year, as part of the airline’s strategy to become a publicly-listed US company on the New York stock exchange.

Golden Falcon had described MNG as a “compelling opportunity” for investment in a “high-quality asset”, profitable at operating, pre-tax and net levels, during a period of growth for the cargo sector.

But it has disclosed that, on August 8, the two sides agreed to “mutually terminate” the combination proposal, effective immediately.

No details on the reasons behind the decision have been released, and both companies remain bound by a confidentiality agreement from January last year.

Golden Falcon had expected the combination agreement – which would have been achieved through a complex transaction involving a series of interconnected companies – to close in the first half of this year.

This story was originally published on the website of Air Cargo News‘ sister publication, FlightGlobal.

MNG Airlines to be listed on the NYSE

Share this story

Related Topics

Latest acquisitions news

UPS swoops on time-critical logistics firm MNX

Express giant UPS has today announced a deal to acquire time-critical logistics firm MNX Global Logistics as it looks to…

Read More

Share this story

DB Schenker to be sold as a complete unit and not split up

Deutsche Bahn will sell its logistics business, DB Schenker, as a complete unit rather than splitting it up into smaller…

Read More

Share this story

Nippon Cargo Airlines takeover delayed

The transfer of freighter operator Nippon Cargo Airlines (NCA) from logistics group NYK to All Nippon Airways (ANA) has been…

Read More

Share this story