LATAM Airlines Group has said that it plans to conclude the acquisition of its frequent flyer programme Multiplus through its subsidiary LATAM Airlines Brasil in order to merge it with LATAM Pass.
Multiplus will redeem the remaining 2.79% stake held by external investors at BRL26.84 reals (USD6.7) per share, just 0.1% above the market price at the close of trading on April 22. Subsequently, the company will be delisted from the B3 exchange in Sao Paulo.
In September, LATAM announced that its Brazilian subsidiary would acquire the remainder of Multiplus stock traded at the B3 exchange at BRL27.22 reals per share. At that time, LATAM Brazil already held around 73% stake in the company.
The entire transaction is worth around BRL1.2 billion reals (USD305 million).
LATAM plans to consolidate its frequent flyer programmes and use just one for the entire group. Multiplus used to be the frequent flyer programme of TAM Linhas Aéreas (São Paulo Congonhas) prior to the merger with Chile's LAN Airlines (Santiago de Chile).
