The Traderszone Network

Published in TZ Latest News 30 October, 2015 by The TZ Newswire Staff

Exclusive: AirAsia founder began buyout talks as share fall put loans at risk – sources

AirAsia founder Tony Fernandes began talks with bankers to take Asia’s No.1 budget airline private after a plunge in its stock price put $200 million worth of loans borrowed against AirAsia’s shares at risk, people familiar with the situation told Reuters. The Malaysian entrepreneur and his business partner Kamarudin Meranun, respectively Group CEO and Chairman of AirAsia Bhd (AIRA.KL), borrowed the money against their 19 percent indirect holding in AirAsia from Credit Suisse (CSGN.VX) and CIMB (CIMB.KL) to help fund private ventures, people familiar with the situation said.

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