October 15, 2018 / 8:28 PM / a month ago

Brazil securities regulator to analyze Gol-Smiles buyout

SAO PAULO, Oct 15 (Reuters) - Brazilian securities regulator CVM has opened a formal analysis of airline Gol Linhas Aereas Inteligentes SA's plan to buy out minority shareholders in its loyalty program, Smiles Fidelidade SA , the regulator said on Monday.

Gol said earlier on Monday it planned to buy out Smiles' minority shareholders to improve governance and cut costs, sending Smiles shares plummeting more than 38 percent. (Reporting by Gram Slattery; Editing by Dan Grebler)

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