Ireland Aviation agreed to acquire additional 50% stake in VivaColombia from Sociedades Bolivar S.A. (BVC:GRUBOLIVAR) and Grupo Fast on July 20, 2016. As a result of the transaction, Ireland Aviation will increase its ownership in VivaColombia from 25% stake to 75% stake. VivaColombia's co-founders Juan Emilio Posada and Gabriel Migowski resigned. Posada, who was also Chief Executive Officer, has since been replaced by William Shaw. Ireland Aviation Limited completed the acquisition of additional 50% stake in VivaColombia from Sociedades Bolivar S.A. (BVC:GRUBOLIVAR) and Grupo Fast in July. IAMSA will retain 25% in VivaColombia.