October 4, 2016 / 2:37 AM / 10 months ago

CORRECTED-China's Rifa makes $148 mln bid for New Zealand's Airwork Holdings

1 Min Read

(Corrects paragraph 3 to say Auckland-based, not Wellington-based)

WELLINGTON, Oct 4 (Reuters) - 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 million).

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)

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