Delta successfully completes cash tender offer to acquire additional shares in Grupo Aeroméxico

Delta Air Lines successfully completed (13-Mar-2017) its cash tender offer to acquire up to an additional 32% of Grupo Aeroméxico's outstanding capital stock for MXN53.00 (USD2.70) per share. The offer was oversubscribed, with Delta acquiring 228 million shares representing 32% of Aeromexico's outstanding shares and 39.8% of the shares tendered in the tender offer, for an aggregate purchase price of approximately USD620 million. All conditions to completing the tender offer, including receipt of required regulatory approvals in Mexico, have been satisfied. Delta now owns 36.2% of Grupo Aeroméxico's outstanding shares and holds options to acquire an additional 12.8% for a total of 49% of outstanding shares. [more - original PR]