Advent International has completed acquiring a 30% minority interest in LifeMiles from Avianca for $344m.

Advent International, one of the largest and most experienced global private equity investors, has completed acquiring a 30% minority interest in LifeMiles, airline loyalty program company from Avianca, an airline operator for $344m. “We are happy to welcome Advent as our new partner in LifeMiles.This transaction concludes a thorough evaluation process which allowed us to choose Advent as our ideal partner. Their solid understanding of the loyalty industry and verticals in which LifeMiles operates makes them an excellent long-term partner for the Company. We believe Advent has the right team to help us ensure LifeMiles reaches its full potential, and we look forward to working with them to capture additional opportunities that will benefit customers, commercial partners, and our shareholders.” Fabio Villegas, Avianca CEO.