Remaining Presidential LAN Stake Sold

The remaining 3.3% of LAN airlines that was previously owned by investment vehicles controlled by Chilean president Sebastian Pinera was sold in the local stock exchange at CLP9,221 per share, raising a total of CLP104.3bn ($195.8m). Singapore’s Temasek Holdings is reported by international and local press to have acquired a 1.18% stake, but company officials were not available to confirm this. Celfin Capital, which handled the sale, declines to reveal who bought the shares.