September 5, 2018 / 10:59 AM / a year ago

Brazil's Multiplus SA to go private

SAO PAULO, Sept 5 (Reuters) - Brazil’s Multiplus SA , a firm which manages loyalty programs, plans to go private via a tender offer, the firm said in a securities filing on Wednesday.

Under the plan, Latam Airlines Group SA subsidiary TAM SA, which owns about 73 percent of the common stock in Multiplus, will offer to buy its remaining stock for 27.22 reais per share, an 11.6 percent premium over Tuesday’s close.

The firm also said in the securities filing that TAM had chosen not to renew an operational contract with Multiplus. (Reporting by Gram Slattery; editing by Jason Neely)

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