PAC - Grupo Aeroportuario del Pacifico Informs the Acquisition of 51.5% of the Shares Representing the Capital Stock of the Company GWTC | Benzinga
GUADALAJARA, Mexico, June 11, 2024 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V., (NYSE:PAC, BMV:GAP) ("the Company" or "GAP") informs that today signed the acquisition of 51.5% of the shares representing the capital stock of the company Guadalajara World Trade Center, S.A. de C.V. ("GWTC"), for a total amount of Ps. 875,504,411.57 (EIGHT HUNDRED SEVENTY-FIVE MILLION FIVE HUNDRED FOUR THOUSAND FOUR HUNDRED ELEVEN PESOS 57/100).
GWTC is a group consisting of seven companies that specialize in handling, storage, and custody services for international cargo. These services are provided in facilities classified as free trade zone (recinto fiscal) at Guadalajara Airport and Puebla Airport.
In 2023, GWTC generated revenues above Ps. 1.0 billion, with an EBITDA margin of around 40%, and without financial debt.
The transaction is expected to be closed and paid no later than June 25, pending to define if through a bank loan or using the Company's resources.
With this acquisition, GAP aims to gain knowledge and experience in the cargo business. It also aims to take advantage of the strategic opportunity that nearshoring offers in the region.
Company Description
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates 12 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 other mid-sized cities: Hermosillo, Guanajuato, Morelia, Aguascalientes, Mexicali, and Los Mochis. In February 2006, GAP's shares were listed ...