July 12, 2016 / 9:47 AM / in 2 years

AIRSHOW-Qatar to acquire up to 10 pct of LATAM Airlines

FARNBOROUGH, England, July 12 (Reuters) - Qatar Airways has agreed to acquire up to 10 percent of Latin America’s largest airline LATAM Airlines, in a deal that would inject $613 million into the Chile-based carrier, the two companies said on Tuesday.

“We have signed a subscription agreement that provides for Qatar Airways to acquire up to 10 percent of LATAM’s total shares, which will be acquired in connection with a capital increase,” Qatar chief executive Akbar Al Baker told a media briefing at the Farnborough Airshow.

Under the agreement, LATAM will hold an Extraordinary Shareholders Meeting by Sept. 2 to propose a capital increase of $613 million through the issuance of new shares at $10 per share, the companies said in a statement. (Reporting by Conor Humphries; Editing by Mark Potter)

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