Fastjet to acquire branding rights from EasyGroup

The firm said in a statement issued last week that the two parties have already entered into an agreement which, once finalised, will result in "savings" to fastjet over the next five years.
“Fastjet is a great brand in all its African markets, making it a highly valuable asset for the company," EasyGroup founder and CEO, Stelios Haji-Ioannou, said.
"I have accepted the view of the current board that the company should own its own brand rather than license it from me. I feel we have agreed on a fair price for its transfer - USD2.5 million – which is less than what the company would have had to pay over the next five years. I still hold shares worth about GBP1.3 million in the company and as such I will be a supportive shareholder, hoping to realize significant upside potential as Fastjet grows and prospers."
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