Asur: Chico Pardo securing another 25.5% in ITA

Mexican businessman Fernando Chico Pardo has exercised his pre-emptive right to acquire a 25.5% share of airport company ITA, airport concessionaire and ITA strategic partner Asur (NYSE: ASR) said in a statement. If the transaction goes through, Chico Pardo would hold a 63.5% share in ITA and Denmark's Copenhagen Airports (CPH) the 36.5% balance. Chico Pardo would then sell up to 12.5% of ITA to Copenhagen Airports for US$17.8mn, keeping a 51% stake and giving the latter a 49% piece, CPH vice-president and head of investor relations, Flemming Petersen told BNamericas last week. Mexican development bank Nafin declared earlier this month ITM (Infraestructura y Transportes México), a subsidiary of resources and transport giant Grupo México (BMV: GMEXICOB), the official winner in its auction for the 25.5% share in ITA. But according to bidding rules, ITA's current stockholders have a pre-emptive right to equal the US$35.7mn offer by ITM. Chico Pardo already owns 38% of ITA. Asur operates airports in Cancún, Mérida, Cozumel, Villahermosa, Oaxaca, Veracruz, Huatulco, Tapachula and Minatitlán.