Amazon takes nearly 10 percent stake in Air Transport Services Group | Reuters
Amazon.com Inc (AMZN.O) has taken a 9.99 percent stake in Air Transport Services Group Inc (ATSG.O), the company from which it will be leasing freighter aircraft.
Last week, Amazon said it had signed a deal with ATSG to lease 20 Boeing (BA.N) 767 widebody freighter aircraft to handle more of its own deliveries in the United States.
As part of the agreement, Amazon has the right to buy up to 19.9 percent of ATSG's stock over five years at $9.73 per share.
Amazon took the stake in ATSG as of March 8, a day before the retailer publicly announced its deal with the company.
ASTG shares closed at $14.56 on Friday.
(Reporting by Anya George Tharakan in Bengaluru; Editing by Sandra Maler)
This story has not been edited by Firstpost staff and is generated by auto-feed.
First Published On : Mar 19, 2016 05:15 IST