November 16, 2018 / 6:15 PM / a month ago

Struggling Fastjet plans to raise at least $40 mln

Nov 16 (Reuters) - Fastjet said it plans fundraising and equity refinancing to increase its equity base by at least $40 million, days after it said discussions with shareholders and creditors were continuing.

Its largest shareholder Solenta Aviation agreed to subscribe 316.7 mln shares of Fastjet, the struggling African budget airline said, adding that Solenta’s stake in the company will increase to 54.3 percent from the existing 29.8 percent. (Reporting by Sangameswaran S in Bengaluru; Editing by Adrian Croft)

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