Delta Air Lines (DAL) and Korean Air said Friday that they will acquire a combined 25% equity stake in Canadian carrier WestJet from Onex Partners.
The companies said Delta will invest $330 million for a 15% stake, while Korean Air will pay $220 million for 10%.
Delta also plans to sell a 2.3% stake to Air France-KLM for $50 million, the companies said, adding the move would strengthen their long-standing partnerships.
The deal is subject to regulatory approval.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.