Tuesday , November 15, 2005 12:49 ET
Viva International, Inc. (VIVI) released a statement indicating that Viva and the owners of RegionsAir are continuing to exchange information and exhibits intended to be a part of the comprehensive acquisition agreement that upon completion will make RegionsAir a wholly owned subsidiary of Viva.
Robert Scott, Viva's Chairman, commented, "We are very close to finalizing our agreements with the shareholders of Regions that will allow Viva to absorb Regions into our organization. We are well aware that we expected to have everything final so that we could formally close today. I think both sides have worked hard to make this happen but we are probably going to need a few more days to allow the attorneys for each side time for final review and to allow for any revisions that may be required. This is no way diminishes the intent of both parties to complete this transaction and to proceed as planned. I believe that Viva has the confidence of the current shareholders of RegionsAir in our ability to satisfy our commitment to them as well as our overall plan on the utilization of Regions as a member of the Viva family of companies".
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