EVA Air announced on August 6 its decision to purchase significant equity stakes in three subsidiaries of Evergreen International, a strategic move reflecting the ongoing division of assets among the Zhang brothers. The transaction, valued at NT$2.913 billion (approximately $91.5 million), marks a crucial step in the separation of the Evergreen Group’s holdings.
EVA Air will spend NT$1.998 billion to acquire all 38,400 shares of Evergreen Air Kitchen, making it the largest acquisition in the deal. Additionally, EVA Air is purchasing shares in Evergreen Airlines for NT$565 million and Evergreen Air Freight Warehousing for NT$350 million.
This series of transactions follows a trend of asset sales by Evergreen International, paving the way for the Zhang brothers to divide their property. With these sales, the brothers aim to convert their holdings into cash, enabling each to invest in ventures aligned with their personal interests.
EVA Air’s acquisitions were based on valuations by independent experts and accountants, ensuring price fairness and strategic alignment with its operational plans. The company reported the latest net worth per share as NT$29.62 for EVA Air Service, NT$28.66 for EVA Air Kitchen, and NT$23.06 for EVA Air Freight Warehousing.
Following the Evergreen Group’s internal restructuring, Evergreen International and its Panamanian counterpart have been liquidating assets. This gradual divestment reduces their influence over Evergreen Group’s listed companies, allowing the Zhang brothers to reinvest in enterprises they wish to lead independently.
