Brazil regulator approves American Airlines' investment in Azul
Brazil regulator approves American Airlines' investment in Azul SAO PAULO, Oct 7 (Reuters) - Brazil's antitrust regulator CADE on Wednesday approved American Airlines' AAL.O $100 million investment in Azul AZUL3.SA, giving the US firm a minority stake of about 8% in the Brazilian carrier.
Azul emerged from Chapter 11 bankruptcy protection in February after a sweeping restructuring that included investments from United Airlines UAL.O and American
CADE technicians had previously approved the move, but Abra Group -- the holding that controls Brazilian airline Gol, a longtime partner of American -- appealed the decision
The approval was conditioned on the signing and full compliance with a Merger Control Agreement (ACC) between CADE and the parties, the regulator said
The ACC converts previously private safeguards into obligations directly enforceable before CADE, it added
(Reporting by Gabriel Araujo; Editing by Andre Romani)
((Gabriel.Araujo2@thomsonreuters.com; +55 11 5047-3352;))
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