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Brazil’s Gol Agrees to Buy Webjet to Gain Market Share

Gol Linhas Aereas Inteligentes SA, Brazil’s second-largest airline by market share, agreed to acquire Webjet Linhas Aereas SA for 96 million reais ($61 million), as it seeks to recover market share in Latin America’s biggest economy.

Sao Paulo-based Gol said in a regulatory filing today that the deal valued closely-held Webjet at 310.7 million reais, according to a regulatory filing. Webjet, a low-cost carrier based in Rio de Janeiro and controlled by Guilherme Paulus, is Brazil’s fourth-largest airline, with 5.2 percent of the country’s airline market.