General Atlantic Booking Investment with Smiles S.A.
April 11, 2013
General Atlantic has entered into an agreement to invest in Smiles S.A., a subsidiary of Latin American airline GOL Linhas Aereas Inteligentes S.A. (NYSE: GOL). The private equity firm has agreed to invest BRL400 million ($202.3 million) toward Smiles' upcoming IPO, which is expected to price toward the end of the month. Based in Brazil, the airline offers almost 900 flights a day to 62 destinations in 13 countries; its Smiles subsidiary operates the airline's mileage program. The subsidiary expects to offer more than 30 million shares in its offering.