Sponsor Message:
Civil Aviation Forum
My Starred Topics | Profile | New Topic | Forum Index | Help | Search 
Chile President Elect To Sell 26% Of LAN Airlines  
User currently offlineOP3000 From United States of America, joined Jun 2009, 1816 posts, RR: 2
Posted (6 years 4 months 1 week 1 day 3 hours ago) and read 2838 times:

As expected, Chilean President-Elect Sebastian Pinera will sell the 26.3% of LAN Airlines shares that he personally owns through a couple of holding companies:


The second link, in Spanish, mentions that the shares will be sold to an investment company controlled by Enrique and Ignacio Cueto, who control 25.7% of LAN and are the airline's CEO and President, respectively.

It seems as if instead of the Cueto's having to buy the 26.3% of LAN outright, they will buy a controlling stake (around 51%) in Pinera's Axxion holding company, which in turns owns 19.1% of LAN. This maneuver is legal for publicly-traded companies under Chilean law. Pinera could then sell the remaining stake in Axxion that the Cueto's don't buy to other investors in the open trading market, ridding himself of any impressions of conflict-of-interest that he would bring about if he kept ownership in Chile's largest airline.

[Edited 2010-01-22 16:20:16]

Top Of Page
Forum Index

This topic is archived and can not be replied to any more.

Printer friendly format

Similar topics:More similar topics...
Qantas To Buy 30% Of Pacific Airlines posted Thu Apr 26 2007 09:32:45 by PanAm_DC10
AZ - Official - State To Sell Part Of Its 49,9% posted Fri Dec 1 2006 13:06:33 by Ikarus2006
Eads In Talks To Sell Part Of Airbus posted Thu Nov 16 2006 07:41:00 by N1786b
Eads In Talks To Sell Part Of Airbus posted Thu Nov 16 2006 07:39:44 by N1786b
BAe In Talks To Sell Out Of Airbus posted Tue Mar 21 2006 15:20:47 by NAV20
BA To Sell Out Of Qantas? posted Thu Oct 18 2001 10:06:37 by Heisan67
LAN Chile To LAN Airlines posted Sat Jul 2 2005 14:43:17 by Viasa
Taiwan Government To Sell 20-30% Of China Airlines posted Sat Jul 20 2002 16:19:04 by Singapore_Air
Majority Shareholder Of Air Canada To Sell? Buy? posted Tue Nov 11 2008 13:47:11 by Bakersdozen
Airlines To Sell Ads On Boarding Passes posted Tue Jul 15 2008 08:20:46 by Planefxr