Delta takes stake in LATAM

Delta takes stake in LATAM

M&A Debt Equity Chile US Brazil

Delta plans to spend $1.9bn for a 20% stake in the Chile's LATAM Airlines, funded with newly issued debt and cash on hand. The US airline will invest $350m to support the new partnership partnership with LATAM. It will also buy four A350 aircraft from LATAM and assume the Chilean airline's commitment to purchase another 10 A350 aircraft from 2020 to 2025, the airlines said in a joint statement. Delta will acquire the stake in LATAM through a public tender offer at $16 per share and get a seat on

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