Chile President-elect Sebastian Pinera yesterday agreed to sell an 8.6% stake in LAN Airlines to the Cueto family for around $500 million, according to multiple news reports. The purchase brings the Cuetos' holding in the airline to 31.75%, eclipsing Pinera as the largest single shareholder, according to a release issued by the family cited by Reuters. Pinera, who at one point owned a 26% stake in LAN but is attempting to offload his entire holding before taking office next month to avoid a ...

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