Mexico airport privatization seen as high as $1 bln
Mexico’s government could reap $1 billion this week when it lists airport operator GAP on the stock market in the biggest privatization in years.
The government is expected to sell its 85 percent stake in Grupo Aeroportuario del Pacifico, which operates 12 airports in Mexico, including busy destinations like Guadalajara, Tijuana and Puerto Vallarta, for between $18 and $20 per U.S.-traded share.
Two-thirds of the government’s 85 percent stake in the company, known as GAP and expected to be priced on Thursday, will be sold to U.S. investors as American Depositary Receipts, according to a presentation to analysts. One American Depositary Receipt is the equivalent of 10 local shares.
The sale of GAP will be the largest privatization in Mexico under President Vicente Fox, who took office in 2000.
It will also be Mexico’s biggest initial public offering in more than a decade. A company director was expected to ring the opening bell at the New York Stock Exchange on Friday.
More: today.reuters.com
Iberdrola targets further 1 bln usd investment in Mexico until 2010
Iberdrola SA said it plans to invest a further 1 bln usd in Mexico until 2010, following investments of 2.8 bln over the past six years, bringing the total to 3.8 bln usd over 1999-2010.
In a statement, Iberdrola quoted chairman Inigo de Oriol as saying that the company will continue bidding for contracts from the Mexican state-owned electricity utility CFE over the next few years.
De Oriol was speaking with President Vicente Fox at the opening of two new combined cycle power plants in Mexico.
More: forbes.com
Fog closes Mexico City airport, disrupting 71 flights
A blanket of fog closed Mexico City's airport for several hours early Monday, disrupting 71 international and domestic flights during the travel industry's busiest season, the airport spokesman said.
Authorities shut down the airport from 5:10 a.m. until 8:32 a.m., said Jose Luis Uribe, airport spokesman.
Officials canceled seven domestic flights and diverted 11 domestic flights to airports in Acapulco, Guadalajara and Morelia to wait until the airport reopened.
"This is the season for blankets of fog," Uribe said. "But because it is also vacation time, it's a problem."
Soure: signonsandiego.com
Mexico govt sees cost of rebuilding economy after Hurricane Stan at 1.85 bln usd
President Vicente Fox estimated the cost of rebuilding the economies of the Mexican states hit by Tropical Storm Stan at 20 bln pesos (1.85 bln usd).
Stan slammed ashore as a hurricane in Mexico's state of Veracruz on Tuesday.
Seven states in Mexico's south -- the poorest region of the country -- were affected by the storm. At least 24 Mexicans were confirmed dead.
An estimated 2 mln people were affected by the storm, with 300,000 evacuated to emergency shelters and other temporary housing.
Source: forbes.com
Vinci sells stake in Mexico's SETA airport operator for nearly 38 mln usd
Vinci said it has sold its holding in Mexican airport operator SETA to Mexico's ICA for just under 38 mln usd, completing the French company's withdrawal from the country's airport sector.
SETA operated 13 airports in North and central Mexico, including Monterrey airport.
In April 2004, Vinci sold the indirect holding it had in the airports of southern Mexico for around 30 mln usd.
Soure: forbes.com
CAF order book stands at 2.8 bln eur after Mexico light rail contract - report
Construcciones Auxiliar FFCC SA's order book stands at around 2.8 bln eur after the company won a 510 mln contract to construct and operate a light rail network in Mexico City, El Pais reported, citing unnamed CAF sources.
Yesterday, CAF said Indra Sistemas SA, Obrascon Huarte Lain SA, Alcatel, Elecnor SA, ADIF and Ineco will all participate in the project.
According to El Pais, about 100 mln eur of the total investment will be subsidised by the Mexican government.
The copying, republication or redistribution of AFX
Mexico's TV Azteca to prepay 1.4 bln pesos of debt
Mexico's No. 2 broadcaster TV Azteca said on Friday that this month it will prepay 1.406 billion pesos ($131 million) of debt with local bank Banco Inbursa that is due to expire in 2008.
Azteca (TVAZTCACPO.MX: Quote, Profile, Research)(TZA.N: Quote, Profile, Research), owned by media and retail magnate Ricardo Salinas, said it was funding the debt prepayment with the proceeds of a bond issue in Mexico. ($1 = 10.694 pesos)
More: today.reuters.com
Mexico Exports Rise 16% in June to $21.2 Bln on Autos (Correct)
Mexicos exports surged for a second month in June as sales of automobiles helped regain U.S. market share lost to China.
Exports climbed to $21.2 billion from $18.3 billion a year earlier, after reaching a record $22.71 billion in May, according to a Finance Ministry report. Mexico posted a trade deficit of $417 million in June, the report said. Imports rose 17.9 percent from a year earlier to $21.7 billion.
Source : bloomberg.com
Mexicos Asur wants new airport south of Cancun
Mexican airport operator Asur has asked for a permit to build and operate a new airport in the Mayan Riviera, a popular area of spectacular Caribbean beaches south of the huge resort of Cancun.
Asur (ASURB.MX: Quote, Profile, Research) (ASR.N: Quote, Profile, Research) operates nine airports in southern Mexico, including one in Cancun and another on the island of Cozumel just off Mexicos Caribbean coast.
The Mayan Riviera includes the fast-growing resorts of Playa del Carmen and Tulum, popular among European and American tourists.
More : today.reuters.com
Agents at Mexico City Airport Seize 585 Kilograms of Cocaine
Federal agents searching the cargo hold of a flight from Venezuela on Monday discovered at least 585 kilograms (1,290 pounds) of cocaine tucked inside 13 cardboard boxes - one of the largest cocaine seizures in the history of the Mexican capital's airport.
Dogs trained to smell drugs led authorities to the discovery aboard Mexicana Airlines Flight 374, which landed at Benito Juarez International Airport from Caracas, the Venezuelan capital, according to a federal police spokesman.
A statement from the federal attorney general's office said that 585 kilograms of cocaine had been divided carefully
Mexico's Slim Urges Spending Up to $2 Bln on Mexico City Water
Mexico's Carlos Slim, Latin America's wealthiest businessman, said he's pushing for a combination of government and private investment to spend as much as $2 billion to ease Mexico City's water shortage.
Slim has a three-point plan to increase the supply of water in the Valley of Mexico by fixing leaky water pipelines, capturing rainwater in reservoirs and building water treatment plants, he said following an event on improving Mexico City's downtown area.
``This is where it makes sense for private investment to support these projects so they're not limited
