Fintech plans offer to acquire up to 25% of OMA's outstanding shares

Grupo Aeroportuario del Centro Norte (OMA) announced (23-Dec-2020) its indirect shareholder, Fintech, is considering possible transactions related to its investment in OMA. As of 22-Dec-2020, Fintech owned series B shares and underlying ADRs and series BB shares which represented approximately 14.7% of the total outstanding capital stock of OMA. Fintech informed that it has considered from time to time making a tender offer, for an additional interest in series B shares of OMA, without exceeding an aggregate interest of 40% of the aggregate outstanding shares of OMA. Fintech also evaluated alternative possibilities for the financial, legal and regulatory structures available for such an offer and that it has engaged in exploratory discussions regarding those possibilities with potential providers of financing, potential dealer-managers and regulatory authorities in the US and Mexico. Fintech currently expect that any such offer would be for between 19,505,578 series B shares (or 5% of the aggregate outstanding shares of OMA) and 97,527,889 series B shares (or 25% of the aggregate outstanding shares of OMA) for an expected purchase price of up to MXN137 (USD6.83) per series B share. Fintech does not expect to be in a position to commence an offer before the final week of Jan-2021. [more - original PR]