United States: Milbank Represents Brazils GOL Linhas Aereas Inteligentes Inteligentes In $100 Million Strategic PIPE Equity Investment By Delta Airlines
Last Updated: December 13 2011

In a deal reflecting its dual strengths in Latin America and the aviation industry, Milbank, Tweed, Hadley & McCloy LLP has represented long time client Brazilian airline GOL Linhas Aereas Inteligentes S.A. in a $100 million direct minority investment by Delta Airlines. The investment was announced on December 7, together with a number of enhancements to strategic commercial co-operations.

Delta will receive American Depository Shares representing GOL preferred shares with an issue price of R$22 per share. The total capital increase will be up to US$150 million, including subscription rights for all GOL shareholders. A Delta representative will also join GOLÒ¢â

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