Delta extends cash tender offer to purchase additional Grupo Aeroméxico shares

Delta Air Lines (NYSE: DAL) has launched a cash tender offer through the Mexican Stock Exchange to acquire up to an additional 32% of the outstanding capital stock of Grupo Aeroméxico S.A.B. de C.V. (BMV: AEROMEX) for MXN 53.00 per share, the company said.

The difference from the previously announced tender price of MXN 43.59 per share is the result of interim exchange rate movements and other factors. Completion of the cash tender offer is subject to certain conditions including acceptance of the offer by holders of at least 25% of the outstanding shares of Grupo Aeroméxico and receipt of required antitrust approvals in Mexico.

Currently, Delta owns approximately 4.2% of the outstanding shares of Grupo Aeroméxico and holds options to acquire an additional 12.8%. If fully subscribed, following completion of the tender offer, Delta would own and/or have options to acquire up to a total of 49% of the outstanding shares of the company.

Delta and Aeroméxico launched their first codeshare in 1994, and entered into an enhanced commercial agreement in 2011. In 2012, Delta invested USD 65m in shares of Grupo Aeroméxico, the parent company of Aeroméxico. In March 2015, Delta and Aeroméxico entered into a joint cooperation agreement relating to flights between the United States and Mexico.

Delta Air Lines serves nearly 180 million customers each year. Delta and the Delta Connection carriers offer service to 323 destinations in 57 countries on six continents. Headquartered in Atlanta, Delta employs more than 80,000 employees worldwide and operates a mainline fleet of more than 800 aircraft. The airline is a founding member of the SkyTeam global alliance and participates in the industry´s leading transatlantic joint venture with Air France-KLM and Alitalia as well as a joint venture with Virgin Atlantic.