Fernando Chico Pardo Concludes Sale Of 49% Of ITA (Strategic Partner Of ASUR) And 37,746,290 Class B Common Shares Of ASUR To Grupo ADO, S.A. De C.V.; Chico Pardo To Remain Chairman Of The Board Of ASUR And Retain 51% Of ITA
MEXICO CITY, Jan. 4, 2012 /PRNewswire/ -- Grupo Aeroportuario del Sureste, S.A.B. de C.V. (NYSE: ASR; BMV: ASUR) ("ASUR"), the first privatized airport group in Mexico and operator of Cancun Airport and eight other airports in southeast Mexico, announced today that it was notified by Fernando Chico Pardo ("FCP"), shareholder and chairman of ASUR's board of directors, that he has concluded the sale to Grupo ADO, S.A. de C.V. ("ADO") of 49% of the shares of Inversiones y Tecnicas Aeroportuarias, S.A.P.I. de C.V. ("ITA") and 37,746,290 of his Class B shares of ASUR (the "Transaction"). The Transaction was originally announced on November 8, 2011 and FCP has notified ASUR that he has obtained all required third party and governmental approvals that are conditions precedent to the closing of the Transaction.
ITA is ASUR's strategic shareholder and holds 22,950,000 of ASUR's Class BB shares, representing 7.65% of ASUR's capital stock. In addition, ASUR and ITA are parties to the technical assistance agreement (the "Technical Assistance Agreement") pursuant to which ASUR has a perpetual and exclusive license in Mexico to use all technical assistance and "know-how" transferred to it by ITA during the term of the agreement. In accordance with its terms, the Technical Assistance Agreement will continue in force following the closing of the Transaction.
FCP will continue to have ownership of 51% of the shares of ITA and 37,746,297 Class B Shares, or 12.5821% of ASUR's capital stock.
About ADO:ADO is a Mexican bus transportation company founded more than 70 years ago that transports approximately 160,000,000 passengers annually. ADO has approximately 20,000 employees and offers passenger, tourist, urban and personnel transportation services. ADO has broad experience in the management of passenger terminals, transportation logistics, tourism and commercial operations.
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