(Reuters) Avianca Holdings SA AVT_p.CN top shareholder, German Efromovich, said on Thursday that a deal between Avianca and United Continental Holdings Inc (UAL.N) “will happen,” despite a lawsuit aimed at blocking the deal filed by the airline’s No. 2 shareholder this week.
A suit brought in New York by Kingsland Holdings alleges that the deal for Avianca with United is “an egregiously one-sided proposed transaction that Efromovich secretly negotiated with United for his own benefit at the expense of Avianca and all of its other shareholders.”
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