Grupo Aeroméxico announced that the shareholders’ meeting approved the delisting of its shares listed on the Mexican Stock Exchange (BMV), a movement that is due to the financial restructuring process.
The Mexican airline reported, in a statement available at the stock market, that it will launch a Public Acquisition Offer, with which it will cease to be a public company, after 11 years of being listed on the Stock Exchange.
“In due course, Aeroméxico will report on the terms and scope of the Public Offer, as well as on its initiation, once it is authorized by the National Banking and Securities Commission, in accordance with the legal provisions,” he indicated in the document. warning.
Last March, the issuer concluded its financial restructuring process under Chapter 11 of the United States Bankruptcy Law, which lasted 19 months.
The delisting of the airline is part of the agreement with its creditors and now shareholders. After the injection of capital for 4,266.8 million dollars, Apollo Global Management is the main shareholder with 22.38% of the company’s capital, Delta Airlines kept 20% and the investors led by Eduardo Tricio and Valentín Diez Morodo, were diluted .
Aeroméxico joins the list of companies that have chosen to leave the local stock market, especially at a time when an initial public offering (IPO) has not been registered on the BMV in almost five years.
Among these companies are Grupo Lala, Bachoco, Fortaleza Materials and Elementia Materials, Maxcom, Bio Pappel and General de Seguros.
“If we start to see the stations that have delisted from the market, it is something natural, it happens in all markets, each one of the cases is very particular. Some have been due to the interests of the shareholders, due to the valuation, in the case of Aeroméxico it is part of a restructuring”, José Oriol-Bosch, general director of the BMV, declared a few weeks ago.
“Some will always enter and others will leave. There will be mergers, delistings, probably what we have to do is that the number always add up and be greater, ”he added.