KUALA LUMPUR: Capital A Bhd's plans to enter into a deal to hive off of its aviation business to AirAsia X Bhd has been extended for a second time, to April 30, 2024.
In a filing with Bursa Malaysia Securities Bhd, Capital A and AirAsia X said they have mutually agreed to extend the negotiation period to execute the definitive agreement for the proposed Acquisitions.
This is the second extension since the announcement of the plan was made on Jan 8, 2024.
Capital A plans to dispose of its entire stakes in AirAsia Bhd and AirAsia Aviation Group Limited (AAAGL) to AirAsia X, for a sum to be agreed upon, as part of a business realignment strategy.
Capital A's share price was unchanged at 70 sen a share, while AirAsia X's was down one sen to RM1.29 a share earlier.