AOL Latin America Receives $150 Million in Added Funding

 

America Online Latin America (AOLA) said Tuesday that it finalized the terms of a $150 million funding package with America Online, the Cisneros Group and Banco Itau, the company's three principal stockholders.

America Online, a division of AOL Time Warner (AOL), will buy $66.3 million of AOL Latin America's convertible preferred stock, and Cisneros Group will purchase $63.8 million of the preferred shares, for a total investment of $130.1 million. Both companies will pay for the stock in three installments.

On Monday, Banco Itau purchased $19.9 million of AOL Latin America's Class A common stock for $4.69 a share. America Online Latin America, which is based in Fort Lauderdale, Fla., offers AOL-branded Internet services in Brazil, Mexico and Argentina.

Shares of AOL Latin America gained 3 cents, or 0.7%, to $4.41 in recent Nasdaq trading.

>To order reprints of this article, click here: Reprints

TheStreet Premium Services    For Personal Service: 877-471-2967

Jim Cramer
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn More
New: ETF Profits
ETF Profits:
Get money-making ideas from the hottest investment vehicle on the planet. Our experts show you how to play various ETF sectors to help pump-up your portfolio. Learn More
OptionsProfits
OptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Doug Kass
Real Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn More
Stocks Under $10
Stocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn More
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
Dow Jones S&P 500 NASDAQ 10-Year Note
12,801.23 1,342.64 2,903.88 19.69
Oil *
117.67
DOWN
89.23
DOWN
9.31
DOWN
23.35
DOWN
0.78
10 Yr
1.97%
SPDR Gold
167.14
-0.69%
-0.69%
-0.80%
-3.81%
Data delayed 20 minutes

Top Stories and Tools

Brokerage Partners

After the Bell

Before the Bell

Booyah! Newsletter

ETF Daily

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

We respect your privacy.
Podcasts

Connect with TheStreet