Brazil Approves Qatar’s LATAM Airlines Stake

Brazil's competition regulator CADE has approved Qatar Airways’ purchase of a 10 percent stake in LATAM Airlines.

LATAM said it would now go ahead with a capital increase to allow the Gulf carrier to buy the stake. Major shareholders in LATAM Airlines have approved the deal.

Qatar Airways announced in July plans to acquire up to 10 percent of LATAM in a USD$613 million deal.

LATAM Airlines is a Chile-based holding company with units in Argentina, Colombia, Ecuador, Paraguay and Peru. It was formed in a merger of Chile's LAN Airlines and Brazil's TAM.