Delta seeks to obtain 49% of AeromexicoBy Valeria Bigurra Peñavera
The US company seeks to buy up to 32% of the shares of the Mexican company
Delta Airlines launched a public offering to buy up to 32% of Aeromexico's shares, for an amount of 12.88 billion 860 thousand 895 pesos, so it would be paying 53 pesos per share.
If the purchase is approved, Delta could acquire up to a total of 49% participation in the Mexican airline, however this operation is subject to the approval of certain things
In order for this to happen the shareholders of at least 25% of the outstanding shares of Grupo Aeromexico would have to agree, as well as the Federal Economic Competition Commission, which will also have to approve the transaction.
Currently Delta owns approximately 4.2% of the existing shares of Grupo Aeromexico, and has the option of acquiring up to 12.8%.
It is important to mention that according to information issued by the Mexican Stock Exchange (BMV), previously the shares were at 43.59 pesos, however due to the movement in the exchange rate and other factors, the price increased to 53 pesos.
Aeromexico and Delta Airlines announced their alliance since last year, which aimed to improve the air connectivity between Mexico and the United States, so that the route network could be expanded to offer better schedules, more frequencies and more benefits.
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