Simpson Thacher Represents Avianca in Business Combination with Grupo TACA
10.09.09
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Simpson Thacher is representing Colombia-based Avianca Airlines in its business combination with El Salvador-based airline group TACA. The two private companies will retain their independent brands for now but each will become subsidiaries of a new holding company. Avianca's owner, Synergy, will take 67% percent of the stock in the new holding company while Taca's shareholders will take the remainder.
The newly combined entity will generate annual sales of $3 billion, operate 129 aircraft to more than 100 destinations in the Americas and Europe and have some 13,000 employees. The transaction is subject to regulatory and antitrust approvals.
The Simpson Thacher team includes: David Williams, Kevin Lehpamer and Borja Marcos (M&A), Jason Vollbracht (Tax) and Michael Naughton (HSR).