ASUR Chairman likely to obtain majority stake in the company
Grupo Aeroportuario del Sureste (ASUR) announced that its Board
of Directors met on 11-May-07 to consider the previously-announced indicative
proposal of Fernando Chico Pardo to acquire shares representing 42.625% of ASUR’s
capital stock and determined that the price per share of USD5.2 set forth in
the Indicative Proposal is fair to ASUR’s shareholders.
In its deliberations, the Board took into account the opinion and analysis of the Audit Committee and a fairness opinion received from the Board’s independent financial advisor dated 10-May-07, which also concluded that the price set forth in the Indicative Proposal was justified from a financial point of view and fair to shareholders.
The Board was also informed that Pardo has obtained the prior approvals required from the Ministry of Communications and Transportation, the Federal Competition Commission and the Mexican Banking and Securities Commission to proceed with the tender offer contemplated by the Indicative Proposal. After duly verifying the foregoing, the Board granted its approval for the tender offer to proceed.
Directors Fernando Chico Pardo and Rasmus Christiansen abstained from any deliberation or voting regarding the Indicative Proposal.
Grupo Aeroportuario del Sureste, SA de CV (ASUR) is a Mexican airport operator with concessions to operate, maintain and develop the airports of Cancun, Merida, Cozumel, Villahermosa, Oaxaca, Veracruz, Huatulco, Tapachula and Minatitlan in the southeast of Mexico. The Company is listed both on the Mexican Bolsa, where it trades under the symbol ASUR, and on the NYSE in the US, where it trades under the symbol ASR. One ADS represents ten (10) series B shares.