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TAM INTERESTED IN ACQUIRING PINERA’S 19% STOCK IN LAN

Written by thomas · Filed Under Commercial 

February 1, 2010

thomas

Brazil’s largest “model airline” is negotiating to acquire 19% shares of LAN from president elect, Sebastian Pinera. The Brazilian airline’s Frequent Flyer program,

Multiplex, is launching an IPO that could raise $688 million, part of which would be used for the acquisition. The largest airline in Brazil already has an operational alliance with the Chilean “model airline” and this investment would further consolidate the alliance according to sources in Brazil. On the other hand the Cueto group, which controls LAN, has a preferential option to acquire Pinera’s shares and is also negotiating the purchase of the stock. Obviously TAM becoming a shareholder in the largest airline group in Latin America has interesting possibilities for further consolidation in the region. The sale must be concluded before March 1 when Pinera assumes the presidency of Chile.

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