Brazil's Gol Airline, Holder to Sell $270 Million in Shares

Gol Linhas Aereas Inteligentes SA, Brazil's No. 3 airline, said it will sell shares valued at 738.5 million reais ($270 million).

Gol and BSSF Air Holdings LLC, an affiliate of AIG Capital Partners, will each sell about sell 10.2 million preferred shares, the Sao Paulo-based airline said in a statement distributed by Business Wire.
Gol, a low-fare airline, also will make available as much as another 3.06 million shares for sale if there's demand, the airline said. Gol's preferred shares closed at 36.2 reais on Thursday on the Sao Paulo stock exchange.
Morgan Stanley will lead the sale in international markets, and Merrill Lynch & Co., Raymond James Inc. and Banco Santander Central Hispano SA will act as joint lead managers, Gol said. The Brazilian units of Santander and Morgan Stanley and Banco Itau Holding Financeira SA, Brazil's biggest bank by market value, will lead the Brazilian portion of the sale, Gol said.

Gol had 78.1 million preferred shares outstanding at the end of September, according to Bloomberg data. The airline raised $281 million in an initial public offering in June.

Source: http://www.bloomberg.com/