1-Feb-2010 1:07 PM

TAM planning to purchase share in LAN

TAM reportedly plans to finance its purchase of a USD2 billion or 19% stake in LAN Airlines through an initial public offering of its frequent-flyer unit Multiplus SA (Bloomberg/Reuters, 29-Jan-2010). Chile’s new President-elect, Sebastian Pinera, previously announced plans to sell his stake in the carrier through Axxion, Pinera’s main holding company.