SANTIAGO, Jan. 19 (Reuters) - The Chilean airline LAN said on Wednesday that they have closed the final terms for its merger with Brazil's TAM, a process that should be realized within six to nine months. LAN said this new commitment to TAM will be generated one of the ten largest groups of airlines worldwide.The merger will give way to the creation of the company LATAM and a new organization, which provides for the exchange of shares, the stock price of LAN in the Sao Paulo Stock Exchange and the withdrawal of TAM ADR of New York. LATAM shareholders believe that Brazil's Amaro family will have a 13.67 percent of the new company, the Chilean family Cueto a 24.07 percent "other shareholders" of LAN by 46.6 percent and "other stakeholders" TAM a 15.65 per cent.
LAN Airlines and TAM announced on 13 August the companies agreed to merge and form an aviation giant in Latin America that would have an annual income of 8,500 million dollars. The union will become official when the agreement is approved by antitrust regulators have in Chile and Brazil.
- Chile's LAN says TAM merger done in 6-9 months (19/01/2011)
- UPDATE 1-Chile's LAN sees TAM merger done in 6-9 months (19/01/2011)
- Chile's airline LAN more than doubles Q3 net profit (26/10/2010)
- Chile LAN sees merger with TAM beginning mid-2011 (24/12/2010)
- LAN says to buy Colombian carrier for $33 mln (28/10/2010)
No comments:
Post a Comment