MEXICO CITY -(Dow Jones)- The Mexican government expects to receive at least $ 300 million from the sale of its stake in the country's central north airport group, with which it will complete the privatization of the concern.
Grupo Aeroportuario del Centro Norte, or GACN, controlled by construction company Empresas ICA (NYSE:ICA) (ICA), said in a press release Wednesday that it plans to issue shares on the local and international stock markets.
GACN, which is also referred to by its trade name OMA, said it expects the offering to price between $14.50 and $16.50 per American Depositary Share, or MXN20.00 pesos to MXN22.50 for each locally traded class B share.
The total amount of the offering will be between $300 and $345 million, not including a 15% over-allotment option for underwriters.
GACN operates 13 airports including the northern industrial hub of Monterrey. France's Aeroports de Paris (Euronext:1034014) (1034014.FR) is a partner in the venture.
The government's sale of its 48% stake in the group completes the privatization of three groups of airports begun in the late 1990s. The other two are Grupo Aeroportuario del Sureste (ASR), or Asur, and Grupo Aeroportuario del Pacifico (PAC).
-By Anthony Harrup, Dow Jones Newswires; (5255) 5080-3450, anthony.harrup@ dowjones.com
(END) Dow Jones Newswires 11-15-06 1446 Copyright (c) 2006 Dow Jones & Company, Inc.
