Qatar to acquire up to 10% of LATAM Airlines

FARNBOROUGH, England: Qatar Airways has agreed to acquire up to 10 per cent 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 per cent 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.