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Mexican airport operator Grupo Aeroportuario del Sureste S.A.B. de C.V. (ASUR) (NYSE: ASR) (BMV: ASUR) has announced that, at a meeting held on Friday 11 May, its board of directors considered the previously announced indicative proposal of Fernando Chico Pardo.
Under the terms of the proposal Chico Pardo would acquire shares representing 42.625% of ASUR's capital stock. The board reportedly determined that the price per share of MXN56.00 set forth in the indicative proposal is fair to ASUR's shareholders.
The company said that 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.
The board was also informed that Chico Pardo had 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.
As a result of the meeting the board has now granted its approval for the tender offer to proceed.
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