Chile LAN sees Brazil TAM takeover done mid-May

uggboy · Mar 29, 2012

Chile LAN sees Brazil TAM takeover done mid-May

SANTIAGO, March 29 (Reuters) - Chile's LAN Airlines
expects a share swap to complete the takeover of
Brazil's TAM in six weeks, wrapping up the multibillion dollar
takeover by mid-May, LAN's Chief Executive Enrique Cueto said on
Thursday at Chile's FIDAE air show.

The takeover to create LATAM Airlines Group will create one
of the world's biggest carriers and the largest in Latin
America.

LAN and TAM have appealed to Chile's
Supreme Court over three measures Chile's antitrust regulator
imposed on the takeover relating to code-share agreements,
ID:nS1E78K20Bobligations to give up some flights via Lima to
other cities, and surveillance requirements.

Cueto said he expects the top court to issue a decision
within two weeks and reiterated the ruling will not affect its
takeover of TAM.

LAN expects solid growth in its passenger traffic in 2012,
but the high price of fuel will pressure costs, Cueto told
Reuters earlier on Thursday.

The airlines' shares gained on Thursday afternoon, both
outpacing their respective bourses.

Shares in LAN were up 0.16 percent in Thursday afternoon
trade, outperforming Santiago's blue-chip IPSA stock
index, which slipped 0.45 percent.

Shares in TAM were trading up 0.62 percent, while Brazil's
benchmark Bovespa stock index shed 0.49 percent.

SOURCE: http://www.reuters.com/article/2012/03/29/lan-tam-idUSL2E8ET9WC20120329

This merger creates a giant!

Gaucho · Mar 29, 2012

http://milepoint.com/forums/threads/lan-doesnt-know-when-it-will-merge-with-tam.32299/

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Chile LAN sees Brazil TAM takeover done mid-May

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Chile LAN sees Brazil TAM takeover done mid-May

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