17-Feb-2011 11:53 AM

Avianca-TACA to issue shares in Colombia

Avianca-TACA Holding SA requested approval from Superintendencia Financiera, Colombia’s securities regulatory agency, to issue shares on the country’s stock market (Portafolio/Bloomberg, 15-Feb-2011). The holding company is part of a JV announced in 2010 in which Aerovias del Continente Americano SA (Avianca) and TACA Airlines merged. Avianca controls 66% of the company’s shares. Avianca withdrew its shares from Colombia’s domestic market in 2002 and returned in 2009 with the sale of USD263.3 million worth of inflation-linked bonds.