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Delta Announces Launch of Cash Tender Offer to Acquire Additional Shares of Grupo Aeroméxico

February 15, 2017 Business News No Comments Email Email

Delta Air Lines today launched a cash tender offer through the Mexican Stock Exchange to acquire up to an additional 32 percent of the outstanding capital stock of Grupo Aeroméxico S.A.B. de C.V. (BMV: AEROMEX) for MXN $53.00 per share. The difference from the previously announced tender price of MXN $43.59 is the result of interim exchange rate movements and other factors. Completion of the cash tender offer is subject to certain conditions including acceptance of the offer by holders of at least twenty-five percent (25%) of the outstanding shares of Grupo Aeroméxico and receipt of required antitrust approvals in Mexico.

Currently, Delta owns approximately 4.2 percent of the outstanding shares of Grupo Aeroméxico and holds options to acquire an additional 12.8 percent. If fully subscribed, following completion of the tender offer, Delta would own and/or have options to acquire up to a total of 49 percent of the outstanding shares of Grupo Aeroméxico.

“This is the next step in expanding our longstanding relationship with Aeromexico, a partnership built on our shared commitment to our customers in the U.S. and Mexico,” said Ed Bastian, Delta’s Chief Executive Officer. “The tender offer and investment will further strengthen the relationship that will be established when our joint cooperation agreement is implemented in the second quarter.”

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