Today, LAN Airlines S.A. held an extraordinary shareholders meeting in order to approve the merger between LAN and TAM.
LAN shareholders approved the merger by a broad majority, over 99.99% of the shares present at the meeting. The shareholders meeting also approved the change of the company’s corporate name (from LAN to LATAM Airlines Group S.A) and the other necessary transactions contemplated in the agreements between the parties.
This approval is an important milestone in the implementation of the merger proposal between LAN and TAM, which is expected to be concluded by the end of the first quarter 2012.
TAM also scheduled a shareholders’ meeting for December 23.
Source = LAN Airlines