Brahim’s ends shareholders’ deal with MAS OldCo

comments     Bernama     Published     Updated

Brahim’s Airline Catering Holdings Sdn Bhd (BACH) has signed a termination agreement with Malaysian Airline System (MAS) to end the existing shareholders’ agreement between Brahim’s Airline Catering Sdn Bhd (BAC), it and MAS.

BAC is an indirect 70 percent-owned unit of Brahim’s Holdings Bhd, while BACH is a wholly-owned subsidiary of Brahim’s Holdings.

In a filing to Bursa Malaysia today, Brahim’s said the three parties have also signed a shareholders’ agreement which regulated the relationship between BACH and Malaysia Airlines Bhd (MAB) as shareholders of BAC.

“The parties have also entered into termination agreement for the termination of the existing catering agreement between BAC and MAS and tenancy agreement for the use of premises provided by MAS to BAC for BAC’s kitchen and other facilities,” it said.

On May 11, MAB and BAC signed new catering agreements, which were later extended to Sept 15, 2015, through an extension agreement signed by both parties in Sept 1.

BAC has entered into other tenancy agreement with MAB for the provision of the premises for BAC’s kitchen and other facilities, Brahim’s said.

“The execution of the agreements are incidental to the new catering agreements whereby the airline business previously undertaken by MAS is now being taken over by MAB in view of the MAB restructuring plan.

“The tenancy agreement entered between MAB and BAC is following the transfer of assets of MAS including the premises to MAB. The agreement is principally on the same terms as the existing agreement,” it said.

- Bernama



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