America Online Latin America finalized terms of a $150 million funding package from its three main stockholders in a move to boost its profile in the region.
America Online will buy $66.3 million in redeemable convertible preferred stock while Venezuela's Cisneros Group of Companies is buying another $63.8 million. The purchase price is $4.6875 a share.
AOL Latin America currently opeartes online services in Brazil, Mexico and Argentina.
- Richard Tedesco