Latam Airlines said it will delay a planned capital increase meant to allow Qatar Airways to take a stake in the Chile-headquartered regional carrier, as it waits for approval of the acquisition from Brazil’s competition regulator Cade.
In July, Qatar Airways agreed to acquire up to 10 per cent of Latam’s total shares following a capital increase of US$613 million, through the issuance of new shares at $10 per share.
“The company has decided to postpone the capital increase considering that it is awaiting a resolution from Brazil’s competition regulator Cade concerning Qatar Airways’ acquisition of a stake in the company,” Latam said.
It added it expects Cade to make a decision within the coming days and that it will then inform the market of the new dates for the capital increase.
Latam was formed in a tie-up between Chile’s Lan and Brazil’s Tam in 2012, giving onetime investor darling Lan access to the region’s biggest market before US carriers could swoop in.
* Reuters
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Company%20profile
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The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
The Buckingham Murders
Starring: Kareena Kapoor Khan, Ash Tandon, Prabhleen Sandhu
Director: Hansal Mehta
Rating: 4 / 5
Most match wins on clay
Guillermo Vilas - 659
Manuel Orantes - 501
Thomas Muster - 422
Rafael Nadal - 399 *
Jose Higueras - 378
Eddie Dibbs - 370
Ilie Nastase - 338
Carlos Moya - 337
Ivan Lendl - 329
Andres Gomez - 322
The specs
Engine: 3.0-litre 6-cyl turbo
Power: 374hp at 5,500-6,500rpm
Torque: 500Nm from 1,900-5,000rpm
Transmission: 8-speed auto
Fuel consumption: 8.5L/100km
Price: from Dh285,000
On sale: from January 2022
The Specs
Price, base Dh379,000
Engine 2.9-litre, twin-turbo V6
Gearbox eight-speed automatic
Power 503bhp
Torque 443Nm
On sale now
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Brief scores:
Toss: South Africa, chose to field
Pakistan: 177 & 294
South Africa: 431 & 43-1
Man of the Match: Faf du Plessis (South Africa)
Series: South Africa lead three-match series 2-0
Pad Man
Dir: R Balki
Starring: Akshay Kumar, Sonam Kapoor, Radhika Apte
Three-and-a-half stars
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