Aeromexico Says Shareholders Will Buy New Ch. 11 Equity

Bankruptcy


Law360 (July 9, 2021, 5:56 PM EDT) — Bankrupt airline Grupo Aeromexico said Friday that existing shareholders have communicated with the company that they intend to buy a controlling interest in the debtor when it makes new equity available as part of its Chapter 11 plan.

In a statement, Aeromexico said the existing shareholders informed the debtor of their intention but that no formal agreement or documentation has thus far been executed, but that the investment would not be a short-term one.

“The foregoing is expected to be a material, controlling and long-term, investment, in full compliance with the applicable provisions of the Mexican foreign investment law,” the debtor…

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