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SANTIAGO, Dec 28 (Reuters) - Chile's LATAM Airlines
LATAM announced in mid-July an agreement in which Qatar would buy 10 percent of the company via the issuance of new shares, with a payment of $10 per share.
"The entrance of Qatar into the ownership (of LATAM) is an opportunity to develop a long-term relationship and explore new opportunities for connectivity with Asia and the Middle East," LATAM said in a statement.
The Qatar deal forced the Chilean Cueto family and the Brazilian Amaro family to modify the ownership structure of LATAM in September so as not to dilute their participation.
The company, founded in 2012 through a tie-up between Chile's LAN and Brazil's TAM, has reported significant losses in recent years amid a recession in Brazil.
(Reporting by Gram Slattery; Editing by Meredith Mazzilli) ((gram.slattery@thomsonreuters.com)(;)(+562-2370-4229)(;))