LAN announces acquisition of AIRES; no financials disclosed

Written by thomas · Filed Under Commercial 

October 28, 2010

thomas

LAN announced an agreement to acquire 98.942% of Colombian airline AIRES for US$32.5 million, to be adjusted according to AIRES’ debt variation until the closing of the transaction. From a strategic standpoint, we think acquisition makes sense, but we still do not have a sense on the acquisition’s valuation. Company’s indebtedness or any other financial figures were not disclosed.

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