(Corrects paragraph 3 to say Auckland-based, not
WELLINGTON Oct 4 Chinese investment company
Zhejiang Rifa Holding Group has made a bid to acquire majority
control of New Zealand's Airwork Holdings Limited,
sending shares in the aviation company soaring 17 percent.
Rifa has offered to acquire 75 percent of Airworks for
NZ$5.40 per share in a deal valued at NZ$203 million ($148
Auckland-based Airworks, which carries out plane and
helicopter maintenance as well as providing charter services,
said in a statement that it is considering the offer.
Shares in the company rose as much as 17.3 percent to hit a
record high of NZ$5.20 in the wake of the announcement, before
retracing slightly to NZ$5.10.
($1 = 1.3723 New Zealand dollars)
(Reporting by Charlotte Greenfield; Editing by Edwina Gibbs)