Business as usual: Bert Lina assures Air21 investors after Ayala takeover

Air21 Holdings chairman Alberto Lina assured investors, suppliers, and staff of the logistics group that all existing contracts will be honored even after the family sold the majority stake in the company to the Ayala Group.

Lina’s September 2 letter to clients and stakeholders sought to assure that no drastic changes will happen as 60% of Air21 is acquired by AC Logistics.

“As Chairman of AIR21 Holdings Inc. or AHI, I remain at the helm of all eight companies that are part of AHI’s portfolio,” he said.

“Aside from the restructuring of the financial and legal structures of the respective companies, everything else is business as usual when it comes to operations. All contracts and agreements you may have with us remain in force.”

“We at the Lina Group of Companies wish to thank you for the kind support that you have shown us over the past 43 years. We would not be here without your patronage and friendship,” he added, calling the acquisition an era of exciting times for the logistics sector.

Germany raids properties belonging to Russian oligarch

German investigators on Wednesday raided properties belonging to a Russian oligarch suspected of tax evasion and breaking EU sanctions, police and prosecutors said, with sources naming billionaire Alisher Usmanov as the target.

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