Gol reached an agreement yesterday to acquire Varig from VarigLog and Volo, the controlling shareholders of the airline that was Brazil's market leader before hitting hard financial times in recent years and barely surviving bankruptcy last summer. The deal is worth an aggregate $320 million. The purchase consists of $98 million in cash and approximately 6.1 million nonvoting shares issued by Gol, or 3.2% of Gol's shares, collectively valued at $177 million. The LCC also is assuming $45 ...

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