On September 27, Rifa Group formally started the acquisition of the remaining 25% of Airwork Holdings Co., Ltd. (hereinafter referred to as "Airwork"), issued a general offer to the market and successfully completed the final share delivery on December 1. At this point, Rifa Group became Airwork's sole shareholder, and Airwork has also completed delisting from the New Zealand stock exchange. The acquisition cost a total of about 68 million New Zealand dollars (about 330 million RMB).
This strategic move of Rifa Group will give more flexibility to optimize Airwork's capital structure and provide stronger support to Airwork for its strategic goal of future globalization. It also marks that Rifa Group has taken a concrete step towards becoming China's leading general aviation operator and third-party helicopter MRO service provider.