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US/Mexico: Delta moves to increase Aeromexico stake

By  |  February 13, 2017
US/Mexico: Delta moves to increase Aeromexico stake

Delta has launched a cash tender offer to acquire up to an additional 32 percent of Grupo Aeromexico’s shares through the Mexican Stock Exchange for 53 pesos per share. Delta currently owns 4.2 percent of Aeromexico’s shares with options to acquire an additional 12.8 percent, so the new offer, which requires Aeromexico shareholder and Mexican antitrust approvals, gives Delta the option to acquire up to 49 percent of outstanding shares.

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    The US Department of Transportation in December gave final approval for a joint cooperation agreement between Delta and Aeromexico, and the carriers currently are working to implement conditions required of that approval, including divesting transborder slots in New York and Mexico City.

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