Aeroméxico has a historic fall on the stock market due to the announcement of a public acquisition offer; sinks almost 74%

The actions of Aeroméxico Group register their worst fall in the Mexican Stock Exchange (BMV). At noon they sank 73.69%, to 0.97 pesos, after it was reported that a company not related to the company will initiate proceedings before the CNBV and the BMV to make a public acquisition offer (OPA) voluntary actions.

In a statement, the Mexican airline that is going through a financial restructuring process stated that the shares that are the object of the offer will be paid at a price of one cent per unit and contemplates the acquisition of up to 331.5 million shares, equivalent to 49%. of the social capital. While Delta Airlines, your partner, will not participate in the offer.

“The offer is to give current shareholders an option to exit the capital stock prior to the imminent capitalization of various liabilities in charge of Aeroméxico and its subsidiaries and new contributions to the capital stock that will substantially dilute the current shares upon exiting the process of restructuring under Chapter 11 once the Plan is approved by the Court, and takes effect, “the airline explained in a statement sent to the BMV.

He added that the Offer would initiate prior to the Aeroméxico general shareholders’ meeting, pending call, where it is expected that various corporate actions will be approved to implement and give effect to the plan, which will include, among other resolutions, a capital increase, capitalization of liabilities and new capital contributions.

In June 2020, Aeroméxico Group initiated a voluntary financial restructuring process under Chapter 11 of the Bankruptcy Code of the United States of America.

“Said process has been carried out in an orderly manner, while we continue to operate as a going concern, to strengthen our financial position and liquidity, protect and preserve our operations and assets, and implement the necessary operational adjustments to face the impact of Covid- 19, ”the company said.

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