Strategic Value Partners Adds Entities to LATAM Airlines Filing
Ticker: LTM · Form: SC 13D/A · Filed: Apr 5, 2024 · CIK: 1047716
| Field | Detail |
|---|---|
| Company | Latam Airlines Group S.A. (LTM) |
| Form Type | SC 13D/A |
| Filed Date | Apr 5, 2024 |
| Risk Level | medium |
| Pages | 8 |
| Reading Time | 10 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: amendment, ownership-change, filing-update
Related Tickers: LTMAQ
TL;DR
SVP just added a bunch of new entities to their LATAM Airlines filing. Keep an eye on this.
AI Summary
On April 5, 2024, Strategic Value Partners, LLC and its group members filed an SC 13D/A amendment regarding LATAM AIRLINES GROUP S.A. The filing indicates a change in the group members, with several new entities like ASHTON GATE S.A.R.L., GREEN PASTORE S.A.R.L., and others being added. Strategic Value Partners, LLC, based in Greenwich, CT, is the primary filer.
Why It Matters
This amendment signals a potential shift in the ownership structure or reporting strategy of a significant stakeholder in LATAM Airlines Group S.A., which could influence market perception and future trading activity.
Risk Assessment
Risk Level: medium — Amendments to SC 13D filings can indicate changes in investment strategy or control, which may introduce uncertainty for investors.
Key Players & Entities
- Strategic Value Partners, LLC (company) — Filing entity
- LATAM AIRLINES GROUP S.A. (company) — Subject company
- ASHTON GATE S.A.R.L. (company) — Newly added group member
- GREEN PASTURE S.A.R.L. (company) — Newly added group member
- GROUSE MOOR S.A.R.L. (company) — Newly added group member
- MEADOW GARDEN S.A.R.L. (company) — Newly added group member
- STRATEGIC VALUE NEW RISING FUND, L.P. (company) — Newly added group member
- SVP DISLOCATION LLC (company) — Newly added group member
- SVP NEW RISING MANAGEMENT LLC (company) — Newly added group member
- SVP SPECIAL SITUATIONS III-A LLC (company) — Newly added group member
FAQ
What is the primary purpose of this SC 13D/A filing?
The filing is an amendment to a previous SC 13D filing, indicating a change in the group members associated with the reporting persons and the subject company.
Who is the subject company in this filing?
The subject company is LATAM AIRLINES GROUP S.A., with Central Index Key 0001047716.
Who is the primary filer and where are they located?
The primary filer is Strategic Value Partners, LLC, located at 100 West Putnam Avenue, Greenwich, CT 06830.
When was this filing made?
The filing was made on April 5, 2024.
What are some of the newly listed group members?
Newly listed group members include ASHTON GATE S.A.R.L., GREEN PASTURE S.A.R.L., GROUSE MOOR S.A.R.L., MEADOW GARDEN S.A.R.L., STRATEGIC VALUE NEW RISING FUND, L.P., SVP DISLOCATION LLC, SVP NEW RISING MANAGEMENT LLC, SVP SPECIAL SITUATIONS III-A LLC, SVP SPECIAL SITUATIONS IV LLC, SVP SPECIAL SITUATIONS V LLC, and WILD HEATH S.A.R.L.
Filing Stats: 2,455 words · 10 min read · ~8 pages · Grade level 12.4 · Accepted 2024-04-05 20:34:15
Filing Documents
- tm2411248d1_sc13da.htm (SC 13D/A) — 215KB
- 0001104659-24-044405.txt ( ) — 217KB
Purpose of Transaction
Item 4. Purpose of Transaction.
of the Schedule 13D is amended and supplemented as follows
Item 4 of the Schedule 13D is amended and supplemented as follows: On April 3, 2024, Bouk van Geloven, a director nominee of the Reporting Persons, resigned from his position as a director of the Issuer. Pursuant to the terms of the Shareholders Agreement, the Reporting Persons have nominated a director to replace Mr. van Geloven on the Issuer’s Board of Directors, who is expected to be elected to the Issuer’s Board of Directors, along with the Reporting Persons’ other nominee, at a shareholder meeting of the Issuer to be held on April 25, 2024.
Interest in Securities of the Issuer
Item 5. Interest in Securities of the Issuer
of the Schedule 13D is amended and supplemented
Item 5 of the Schedule 13D is amended and supplemented as follows: (a)-(b) Items 7 through 11 and 13 of each of the cover pages of this Schedule 13D are incorporated herein by reference. The ownership percentage appearing on such cover pages has been calculated based on 604,437,877,587 shares of Common Stock outstanding as of December 31, 2023 as reported in the Issuer’s Annual Report on Form 20-F filed with the Securities and Exchange Commission on February 22, 2024. Page 16 of 17 Schedule 13D/A CUSIP No. N/A SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: April 5, 2024 STRATEGIC VALUE PARTNERS, LLC By: /s/ Lewis Schwartz Name: Lewis Schwartz Title: Chief Financial Officer ASHTON GATE S.A.R.L. By: /s/ Lewis Schwartz Name: Lewis Schwartz Title: Manager SVP SPECIAL SITUATIONS V LLC By: /s/ Lewis Schwartz Name: Lewis Schwartz Title: Chief Financial Officer WILD HEATH S.A.R.L. By: /s/ Lewis Schwartz Name: Lewis Schwartz Title: Manager SVP SPECIAL SITUATIONS III-A LLC By: /s/ Lewis Schwartz Name: Lewis Schwartz Title: Chief Financial Officer GROUSE MOOR S.A.R.L. By: /s/ Lewis Schwartz Name: Lewis Schwartz Title: Manager SVP SPECIAL SITUATIONS IV LLC By: /s/ Lewis Schwartz Name: Lewis Schwartz Title: Chief Financial Officer MEADOW GARDEN S.A.R.L. By: /s/ Lewis Schwartz Name: Lewis Schwartz Title: Manager Page 17 of 17 Schedule 13D/A CUSIP No. N/A GREEN PASTURE S.A.R.L. By: /s/ Lewis Schwartz Name: Lewis Schwartz Title: Manager SVP DISLOCATION LLC By: /s/ Lewis Schwartz Name: Lewis Schwartz Title: Chief Financial Officer STRATEGIC VALUE NEW RISING FUND, L.P. By: SVP NEW RISING GP LTD., its general partner By: /s/ Lewis Schwartz Name: Lewis Schwartz Title: Chief Financial Officer SVP NEW RISING MANAGEMENT