GAP Airports announces shareholder approval of CBX business combination

GAP Airports (PAC) announced that, during its Ordinary and Extraordinary General Shareholders’ Meeting, with a quorum of 88.1% of its shareholders, around 96% of the votes cast approved the business combination of the Cross Border Xpress and the provision of technical assistance and technology transfer services. This business combination will be carried out through the merger of various entities into GAP, including, among others, Aeropuertos Mexicanos del Pacifico, S.A.P.I. de C.V., the company’s current strategic partner. “Consequently, we expect to issue approximately 90 million net new shares and to acquire control of the merged entities, which will allow us to consolidate them,” the company said. “As of today, we have approximately 505 million shares outstanding, and we estimate that, upon delivery of the shares issued by virtue of the merger, we will have approximately 595 million shares outstanding.”