"This new investment demonstrates Delta's confidence in Mexico's future and deepens our relationship with Aeromexico, cementing Delta's long-term commitment to the customers we serve to, from and through Latin America ," said Delta President Ed Bastian. Delta intends to commence the tender offer once required regulatory approvals in Mexico and the United States have been obtained. The tender offer will be subject to terms to be disclosed and customary closing conditions, including the acquisition by Delta of a minimum number of shares in the tender offer. The transaction also is subject to approval by the Boards of Directors of Delta and Grupo Aeromexico. Delta and Aeromexico launched their first codeshare in 1994. In 2011, Delta entered into an enhanced commercial agreement with Aeromexico, and in 2012, Delta invested USD$65 million in shares of Grupo Aeromexico, the parent company of Aeromexico.