United to pay $100 mln for 5 pct stake in Brazil's Azul

viernes 26 de junio de 2015 12:01 GYT

SAO PAULO, June 26 (Reuters) - United Continental Holdings Inc has agreed to pay $100 million for a 5 percent stake in Brazil's Azul SA, said David Neeleman, founder of the Brazilian airline on Friday.

United and Azul also struck a codesharing agreement and the U.S. airline will name a representative to the board of its new Brazilian partner. (Reporting by Priscila Jordao)