Qatar Airways (QR, Doha Hamad Int'l) has announced the completion of its acquisition of a 10% stake in LATAM Airlines Group, first announced during this year's Farnborough 2016 Airshow.

Through its wholly owned subsidiary Qatar Airways Investments (UK) Ltd., the Qatari carrier subscribed to a preemptive rights offering of 61,316,424 new shares at USD10 per share on December 23. Later, on December 28, the Qataris subscribed to 30,349,907 shares not subscribed by LATAM's Cueto, Amaro, Eblen and Bethia Group shareholders during the preemptive rights period.

Combined, the total shares acquired amount to 60,837,452 or 10% of the Latin American carrier conglomerate.