Mergers & Acquisitions News
Marriott closes deal for Protea Hospitality of South Africa
Marriott International and South Africa’s Protea Hospitality Holdings have announced that they have signed definitive agreements for the purchase by Marriott of Protea’s three brands and management company. Under terms of the agreements Marriott will pay approximately US$186 million subject to normal closing adjustments.
Kuoni acquires Royal Tours as it expands Namibia operations
Kuoni is expanding its presence in Namibia with the purchase of Royal Tours. The acquisition is scheduled for completion at the beginning of 2012 pending approval from the competition authorities.
LAN Airlines shareholders agree TAM merger
Shareholders in LAN Airlines of Chile have approved the planned takeover of TAM Airlines of Brazil. The decision was a formality and clears the way for the creation of the largest airline in South America and a major international carrier.
Etihad Airways takes stake in airberlin
Etihad Airways has confirmed it will increase its stake in airberlin to 29.21 per cent, becoming the largest single shareholder in the carrier. Etihad Airways is considered the World’s Leading Airline by the prestigious World Travel Awards.
LAN-TAM merger given go ahead in Brazil
Brazil’s Council for Economic Defence has approved the merger between LAN Airlines of Chile and TAM Airlines in a unanimous vote. Conditions imposed include giving up two pairs of slots at the Guarulhos Airport for the Sao Paulo-Santiago route and an eventual resignation to one of the airline’s alliance memberships.
LAN-TAM merger continues despite objections
Directors at LAN Airlines and TAM Airlines of Brazil have reiterated their desire to move forward with a planned merger, despite objections from the Tribunal de Defensa de la Libre Competencia de Chile. The news comes as anti-trust regulators in Spain approve the deal.
PAL appeals against LAN-TAM merger plans
PAL Airlines has launched an appeal at the Chilean supreme court as it continues to battle the proposed merger of larger rival LAN Airlines and Brazilian carrier TAM. Santiago-based PAL cast fresh uncertainty over the proposed deal, appealing against antitrust approval from regulator in Chile.
LAN hopes to complete TAM deal by early 2012
LAN Airlines has confirmed it expects to complete the takeover of TAM Airlines of Brazil in the first quarter of 2012, following conditional approval from regulators. However, the carrier said it would assess the impact of conditions imposed by regulators in Chile.
BA and Iberia agree merger deal
British Airways and Spain’s Iberia have announced that they have reached a preliminary agreement for a merger following discussions at separate board meetings throughout yesterday.
Continental joins Star Alliance
Continental Airlines has been officially welcomed into the Star Alliance having dropped its membership of the smaller Skyteam partnership, with COO Jeff Smisek likening the move to an upgrade from “economy to business class” during a press conference in New York.
Flybe enters race to buy BMI
Flybe has emerged as a potential runner in the race to buy BMI from Lufthansa. The regional carrier is being tipped to make a joint bid with British Airways, which would sideside potential competition issues over BA’s dominance at Heathrow.
BA/AA hits stumbling block
The proposed tie-up between British Airways and American Airlines has hit a stumbling block after two senior US transport chief have been forced to rule themselves out of the decision-making process. Both the US transportation secretary and his deputy have stepped aside over the ruling whether to grant BA anti-trust immunity.