July 30, 2010 / 9:23 PM / 9 years ago

TAM shareholders to inject $81 mln in fresh capital

* Amaro family to buy 5.62 mln shares at 25.69 reais

* Private placement limited to controlling holders

* Fresh capital to be used for acquisition

SAO PAULO, July 30 (Reuters) - TAM Linhas Aereas TAMM4.SA TAM.N, Brazil’s largest airline, said on Friday that its controlling shareholders would pump as much as 144.4 million reais ($81 million) in fresh capital through the purchase of new shares.

Proceeds from the private placement will be used to buy out TAM Milor Taxi Aereo, a separate air taxi unit from the holding, according to a securities filing. Five members of TAM’s founding family, the Amaros, will subscribe the new 5.62 million shares at a price of 25.69 reais, according to the filing.

If the share sale fails to be fully subscribed, other TAM shareholders will be allowed to buy the new stock, TAM said. Itau Unibanco (ITUB4.SA) will handle the transaction.

TAM rose for a second day in Sao Paulo, advancing 1.5 percent to 29.41 reais, the highest since July 26. (Reporting by Guillermo Parra-Bernal)

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