This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

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.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs