RIO DE JANEIRO, BRAZIL - After two bid raises in just one day, Smiles (SMLS3) shareholders approved on Wednesday, March 24th, a corporate reorganization that, once implemented, will result in the migration of the shareholder base of the loyalty network company to the airline Gol, its parent company.
The terms of the exchange are equivalent to R$27 per share of the loyalty network company, with two options for the company's shareholders. The first is made up of a cash portion of R$9.14 per share and 0.6601 of Gol's preferred stock. The second involves R$22 . . .
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