United Continental Holdings. Inc. has sealed a deal to partner with Avianca Holdings SA, one of the largest Latin American carriers, by agreeing to an unusual arrangement to pay off debt owed to a hedge fund. United will lend $456 million to a company controlled by German Efromovich, the Bolivian-born entrepreneur, which owns just over half of Avianca, according to a securities filing. The funds would be used to repay a loan from Elliott Management Corp., people familiar with the matter said. Avianca shares controlled by...

Source: Wall Street Journal November 30, 2018 19:24 UTC