Aetherium Acquisition in a regulatory filing said its merger agreement with Capital A (CAPI) calls for consideration to Capital A of $1.15 billion. The target leverages the expansion, management and licensing of the AirAsia brand, and serves as a global marketing catalyst for Asean brands.
CAPI will be led by Tony Fernandes, who acquired AirAsia in 2001 and transformed it into a global airline.
The combined company will assume the obligations of Asia Aviation Capital Limited.
A completion date was set for Dec. 31, after which either side can terminate the deal.
Capital A also plans to raise more than $1 billion in debt and equity. Capital A expects to record a one-off gain from the proposed combination.
Aetherium had just under $30 million in its trust as of November last year.
Greenberg Traurig is U.S. legal counsel and Foong & Partners serves as Malaysian legal counsel to CAPI. Rimon P.C. is US legal counsel to Aetherium. Read more.
