LATAM Airlines Group has entered into
an agreement with Qatar Airways that
will allow Qatar to acquire up to 10%
of LATAM’s shares. The shares will be
acquired in connection with a capital
increase.
As part of the agreement, LATAM
Airlines Group will hold an Extraordinary
Shareholders Meeting no later than
September 2 to propose a capital
increase in the amount of US$613m
(R8,7bn) through the issuance of new
shares at US$10 (R144) per share,
some of which will be purchased by
Qatar.
The companies expect the transaction
to be completed within the fourth
quarter of 2016.
The announcement was made at the
Farnborough International Air Show in
England, by both airlines’ ceos: Akbar
Al Baker, group ce of Qatar Airways,
and Enrique Cueto, ceo of LATAM
Airlines Group.
“We are proud to announce Qatar
Airways as a new shareholder of LATAM
which, in addition to strengthening
our financial position, will allow us
to explore new opportunities for
connectivity with Asia and the Middle
East, as well as other potential areas
of co-operation,” said Enrique.
Qatar Airways buys into LATAM
Comments | 0
