Wednesday, July 28, 2010

Televisa sells off stake in Volaris

Article courtesy of Poder360

Inbursa and Televisa Sell Off Volaris

The Slim family bank and the television company sell their shares of airline, but Interjet remains out

Inbursa and Televisa, which up until last Fri. owned 50% of Volaris airline stocks, sold their shares to a new group of Mexican investors. Grupo Televisa said it received $80.6 million for its 25% of shares, while Inbursa has made no statement. Interjet and its offer of $360 million for the entire airline remained outside the purchase and sale of the stocks. Among Volaris's owners are Maria Cristina Kriete Avila (a relative of Roberto Kriete of TACA, with 25% of Volaris), Emilio Diez Barrozo Azcarraga and Ignacio Guerra. These investors joined private capital fund Indigo Partners LCC, which specialize in transportation and aviation, to make the purchase.


Note: Volaris is a low cost airline (similiar to Southwest) in Mexico.  Interjet is Volaris's main competitor.  Inbursa is a bank owned by Carlos Slim.

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