Abertis sells its stake in grupo aeroportuario Del Pacifico Gap
Related M&A Transactions
Abertis, through its fully owned subsidiary Desarrollo de Concesiones Aeroportuarias, has reached a binding agreement with Promotora Aeronáutica del Pacífico, S.A. for the disposal of its full stake (33.33%) in Aeropuertos Mexicanos del Pacífico (AMP) for a net amount of $222 million (€172 Mn).
AMP owns a 17.41% stake in the company Grupo Aeroportuario del Pacífico (GAP), therefore, Abertis will no longer hold any Mexican airport asset at the closing of such transaction.
The deal, which is subjected to the approval of Competition authorities, is the almost final step in the process of divestment of the airport business, in which the last remaining asset is MBJ, concessionary of the Montego Bay Airport, Jamaica.
Airport assets are currently classified as held for the sale, as accorded with the already communicated intention of Abertis to proceed in the divestment in this business area. Including this deal, accumulated net book gains generated from the disposal of airport division amount to €10 million.
Abertis' stake in AMP goes back to 2007, when a pack of airport assets was acquired along with Desarrollo de Concesiones Aeroportuarias (DCA). Grupo Aeroportuario Del Pacífico operates 12 airports in the Pacific region of Mexico. Including the following airports:
- Guadalajara and Tijuana serving the main metropolitan areas.
- Mexicali, Hermosillo, Los Mochis, Aguascalientes, Guanajuato and Morelia, serving médium-size cities.
- La Paz, Los Cabos, Puerto Vallarta and Manzanillo, serving main tourist destination.
Read more about the divestment process carried out by Abertis.
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