Delta Air Lines launched a public offer to acquire up to 32 percent of Grupo Aeroméxico’s shares, for an amount of 12.9 billion pesos ($595.9 million) and have the chance to buy up to a total of 49 percent of participation in the Mexican airline group.
According to information sent to the Mexican Stock Exchange (BMV), the price per share will be 53 pesos, the difference previously announced was 43.59 pesos.
The change is the result of movements in the exchange rate and other factors.
“The cash tender offer is subject to the acceptance of certain conditions including the acceptance of the offer of the shareholders of at least 25 percent of the outstanding shares of Grupo Aeroméxico as well as the one that receives the antitrust approval in Mexico,” said the company.
Currently, Delta owns approximately 4.2 percent of the outstanding shares of Grupo Aeroméxico and has the option of acquiring up to an additional 12.8 percent, so having completed the public offering will be owner and would have the option to buy up to 49 percent of the outstanding shares of Grupo Aeroméxico.