Vinci SA has agreed to buy a 29.99% stake in Mexican airport operator Grupo Aeroportuario del Centro Norte SAB from billionaire David Martinez.
The French concessions and construction company will become the leading shareholder in the operator, known as OMA, it said in a statement Monday that confirmed an earlier Bloomberg News report. Vinci will pay a net purchase price of about $815 million, according to a regulatory filing.
Shares of OMA rose 5% to 130.36 pesos at 10:37 a.m. Monday in Mexico City, outpacing a 0.2% gain rise in Mexico’s benchmark index.
Vinci is buying shares that Martinez’s Fintech Advisory Inc. owns through two separate investment vehicles, SETA and Aerodrome. It is acquiring SETA’s holding for about US$578.7 million, while the Aerodrome stake will fetch a net price of about US$236.7 million, according to Monday’s filing. Some of SETA’s shares carry certain special rights.
Martinez, a billionaire, and native of Mexico is the founder of Fintech, an investment firm with offices in New York and London.
OMA operates 13 international airports in Mexico, including the hub in Monterrey, the country’s second-largest business and industrial city. The deal is expected to be completed by the end of 2022.
Source: El Financiero