Amazon takes nearly 10% stake in Air Transport Services Group

Amazon.com Inc has taken a 9.99% stake in Air Transport Services Group Inc , 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 767 widebody freighter aircraft to handle more of its own deliveries in the United States.

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As part of the agreement, Amazon has the right to buy up to 19.9% 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.