Costa Verde to Scoop up Pinera LAN Stake

Costa Verde to Scoop up Pinera LAN Stake

Chile M&A

The board of Axxion, the holding company through which Chile’s president-elect Sebastian Pinera owns 19.0% of airline LAN, has decided to offer its shares in the airline to Costa Verde Aeronautica, which already holds a 25.0% stake in the company. Inversiones Santa Cecilia, another Piñera-controlled company which holds a 7.3% in the airline, has offered to sell a 2.1% share to Costa Verde. The value of the deal amounts to $1.2bn, or CLP9,099.58 per share. Costa Verde has 20 days to acc

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