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 Posada, who was also Chief Executive Officer, has since been replaced by William Shaw.