Simpson Thacher represented the underwriters in connection with the re-IPO of LATAM Airlines Group S.A. (“LATAM”) and re-listing of its American depositary shares (“ADSs”) on the New York Stock Exchange (“NYSE”) in connection with the public offering by certain shareholders of LATAM to sell 19,000,000 ADSs, resulting in gross proceeds of $456 million to the selling shareholders. The ADSs began trading on the NYSE on July 25, 2024 under the ticker symbol “LTM,” and the transaction closed on July 26, 2024.
LATAM is the largest airline group in South America and one of the ten largest airline groups in the world, as measured by the number of flights operated. It is also the largest air cargo carrier in South America, as measured by cargo fleet. LATAM provides passenger transport services to 148 destinations in 26 countries and cargo services to 166 destinations in 33 countries, with an operating fleet of 336 aircraft.
The Simpson Thacher team included Juan Francisco Mendez, John C. Ericson, Marcelo B. Lorenzen and Christopher Flynn (Capital Markets); Michael E. Mann and Preston Irace (Tax); Paige Brinton and Christian Bond (IP); J. Pasco Struhs (ECEB); Jennie Getsin (FINRA & Blue Sky); and Jeanne M. Annarumma (ERISA). International Associate Larissa Gebrim and Summer Associates Julianne Rudkin and Stephanie Shim provided valuable assistance.