Grupo Aeroportuario del Pacífico, S.A.B. de C.V., (NYSE: PAC; BMV: GAP) (the “Company” or “GAP”) announced that in accordance with the Company’s legal strategy to defend its By-Laws, on March 13, 2012, one of its subsidiaries obtained a preliminary injunction from a federal court of last resort preventing the Comisión Nacional Bancaria y de Valores (National Banking and Securities Commission or the “CNBV”) from making a determination with respect to the Oferta Pública de Adquisición Forzosa (Hostile Takeover bid by Tender Offer or the “Tender Offer”) by Grupo México, S.A.B. de C.V. (“Grupo México”). In granting the preliminary injunction the federal court indicated that it was doing so because the Tender Offer involved a strategic sector, i.e., the airport industry.
Based on the aforementioned, and as instructed by the Federal Collegiate Circuit Court that authorized the foregoing preliminary injunction, the CNBV cannot issue a decision on whether or not to authorize the Tender Offer initiated by Grupo México until this protection proceeding is resolved.
This judicial decision reaffirms the position that GAP has maintained throughout the different protective actions it has taken aimed at defending the integrity of the Company’s corporate structure, including the limits placed on shareholder ownership and participation in the Mexican Airport System, which was designed by the Mexican Federal Government in accordance with the guidelines set out in the “Investment Guidelines for the Opening of Investment in the Mexican Airport System.”
Company Description:Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates twelve airports throughout Mexico’s Pacific region, including the major cities of Guadalajara and Tijuana, the four tourist destinations of Puerto Vallarta, Los Cabos, La Paz and Manzanillo, and six mid-sized cities: Hermosillo, Guanajuato, Morelia, Aguascalientes, Mexicali and Los Mochis. In February 2006, GAP’s shares were listed on the New York Stock Exchange under the ticker symbol “PAC” and on the Mexican Stock Exchange under the ticker symbol “GAP”. This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management’s current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.