LATAM to Buy All Outstanding Shares and Take Customer Loyalty Program Multiplus Private

Leading South American airline LATAM, through its local subsidiary TAM SA, will take full control of Multiplus SA, a Brazilian-based customer loyalty company.

The LATAM Group already owned more than 70% of Multiplus as the controlling stakeholder and will purchase the remaining shares after the São Paulo firm submitted a securities filing to go private.

The offer to buy the remaining interest is for 27.22 Brazilian reais per share, according to Reuters.

“This decision aims to strengthen Multiplus’ program and its network of partners to offer an even better experience, especially in the redemption of air tickets,” said Multiplus in a statement.

(Photo credit: LATAM)