Delta has completed the purchase of an additional 32% of
Aeromexico stock for $620 million.
The purchase was finalized Friday afternoon per the terms of
the Feb. 13 cash tender offer. Delta paid 53 pesos per share through the
Mexican Stock Exchange.
With the acquisition, Delta now owns 36.2% of Grupo Aeromexico.
Delta also holds options to purchase an additional 12.8% of the Mexican
company, which would bring its ownership stake to 49%.
Delta made an initial $65 million investment in Aeromexico
in 2012. The partners are scheduled to implement a joint-venture agreement in
the second quarter that is immune from U.S. antitrust laws.