Group of Investors Makes $151 million Offer for Aeromexico

Banamex, the Mexican banking arm of Citigroup, and a group of Mexican investors have just made an offer for Aeromexico.

The group said it has made a $151 million offer for the airline, which is currently the target of a takeover bid by the Mexican father-son investment team of Alberto Saba Raffoul and Moises Saba Masri.

Banamex said the group plans a public tender offer for 50.1 percent to 100 percent of Aeromexico for about 15 cents a share, a significant premium over the approximate 10 cents a share offered by the Sabas’.

Aeromexico, owned by Consorcio Aeromexico SA and the federal government, which owns 62 percent of the airline, said it believes the offer to be “reasonable.”