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.

Comments
JDS Travel News JDS Viewpoints JDS Africa/MI