June 6, 2017 / 10:22 PM / a year ago

Brazil's Gol to reorganize customer loyalty unit for tax purposes -filing

SAO PAULO, June 6 (Reuters) - Gol Linhas Aéreas Inteligentes SA, Brazil’s No. 2 airline, plans to reorganize a customer loyalty subsidiary, tapping significant tax savings from a simplified corporate structure, according to a securities filing on Tuesday.

According to the filing, the loyalty unit known as Smiles SA said the proposal hinges on shareholder approval and involves it being taken over by a Gol subsidiary known as Webjet Participações SA. The proposal will be submitted to shareholders of Smiles at an extraordinary assembly on June 30, the filing said. (Reporting by Guillermo Parra-Bernal)

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