Copenhagen Airports A/S to increase its stake in Inversiones y Tecnicas Aeroportuarias

Airline Industry Information, Dec 21, 2004

AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD

Danish airport operator Copenhagen Airports A/S said on Tuesday (21 December) that it would acquire an additional stake of up to 12.5% in Mexican company Inversiones y Tecnicas Aeroportuarias (ITA), which owns 15% of the Mexican airport operator Grupo Aeroportuario del Sureste (ASUR).

Copenhagen Airports currently owns 36.5% of ITA while Mexican businessman Fernando Chico Pardo owns 38% of the company.

The remaining stake in ITA of 25.5% is held by the Mexican development bank Nacional Financiera S.N.C, and Fernando Chico Pardo has submitted a bid of USD35.45m for the shares.

According to Copenhagen Airports, it was expected that the 25.5% stake would be transferred to Fernando Chico Pardo in the course of some two months at a price of USD35.7m plus 2% of that amount as compensation to Infraestructura y Transportes Mexico, S.A. de C.V., which had submitted a higher bid.

After the transaction Copenhagen Airports would acquire the additional stake of up to 12.5% from Fernando Chico Pardo. The price would be some USD17.8m or a relatively lower price if a lower percentage is acquired.

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