Virgin Australia Holdings Limited announced that it has entered into a Share Purchase Agreement (SPA) to acquire 60% of the existing shares in Tiger Airways Australia Pty Limited (Tiger Australia) from Tiger Airways Holdings Limited (Tiger Airways) for AUD35 million.
In addition, Tiger Australia has agreed to make a payment of AUD5 million to Tiger Airways, if Tiger Australia achieves certain financial performance targets within five years.
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In addition, Tiger Australia has agreed to make a payment of AUD5 million to Tiger Airways, if Tiger Australia achieves certain financial performance targets within five years.
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