Qatar Airways Builds Stake in LATAM Airlines

Photo: chrisguillebeau.com

Qatar Airways has taken a ten per cent stake in LATAM Airlines through subsidiary Qatar Airways Investments (UK).

Both carriers are members of the oneworld alliance. The pre-emptive rights offering of 61,316,424 new shares, at a price per share of US$10, ended on December 23rd, in which Qatar subscribed shares of LATAM through its wholly-owned.

Qatar acted in its capacity as assignee of the pre-emptive right assigned by the shareholders of the Cueto, Amaro, Eblen and Bethia Groups to Qatar, as agreed between LATAM and Qatar, and other minority shareholders subscribed 12,140 shares of LATAM.

Later, on December 28th, 2016, Qatar subscribed 30,349,907 shares not subscribed by the shareholders during the pre-emptive rights period.

The entrance of Qatar Airways as shareholder of LATAM represents a unique opportunity to develop a long-term relationship and explore new opportunities for connectivity with Asia and the Middle East.

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Source: breakingtravelnews.com

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