The transaction also is subject to approval by the Boards of Directors of Delta and Grupo Aeromexico.ĭelta and Aeromexico launched their first codeshare in 1994.
The tender offer will be subject to terms to be disclosed and customary closing conditions, including the acquisition by Delta of a minimum number of shares in the tender offer. 'This new investment demonstrates Delta's confidence in Mexico's future and deepens our relationship with Aeromexico, cementing Delta's long-term commitment to the customers we serve to, from and through Latin America,' said Delta President Ed Bastian.ĭelta intends to commence the tender offer once required regulatory approvals in Mexico and the United States have been obtained. Following completion of the tender offer, Delta and the Delta pension trust collectively would own and/or have options to acquire up to a total of 49 percent of the outstanding shares of Grupo Aeromexico. Separately, the Delta pension trust holds options to acquire approximately 4.6 percent of Grupo Aeromexico. Currently, Delta owns approximately 4.1 percent of the outstanding shares of Grupo Aeromexico and holds an option to acquire an additional 8.1 percent.
