Atlanta-based Delta Air Lines completed its cash tender to acquire an additional 32% of the outstanding capital stock of Aeromexico Group for roughly $620 million.

The US carrier acquired 228 million additional shares in the carrier under an oversubscribed offer, which closed on 10 March. Delta now holds a 36.2% stake in the Mexican airline.

It paid $2.70 per share for the additional stake in Aeromexico under the offer that was launched on 13 February.

All conditions to completing the tender offer, including receipt of required regulatory approvals in Mexico, have been satisfied.

Aeroméxico Group holds options to acquire an additional 12.8% stake for a 49% share in the airline.

Delta and Aeromexico launched their first codeshare in 1994.

In 2011, Delta entered into an enhanced commercial agreement with Aeroméxico, and in 2012, Delta invested $65 million in shares of Aeroméxico Group.

In March 2015, Delta and Aeromexico entered into a joint cooperation agreement relating to flights between the United States and Mexico.