Pardo Unloads ASUR Stake

Fernando Chico Pardo, chairman and CEO of Mexico’s Grupo Aeroportuario del Sureste (ASUR), an airport operator, has decided to sell a 49% stake in Inversiones y Tecnicas Aeroportuarias (ITA) to bus transportation company ADO, ASUR says. The deal comes roughly a year after Pardo acquired the 49% stake in ITA it didn’t already own from Copenhagen Airports, which recorded a $51.7m profit adjustment as a result of the deal. ITA, a strategic shareholder, holds 7.65% of ASUR’s’ capital stock in the form of class BB shares. Pardo also plans to sell a portion of his class B shares to ADO, ASUR said. Officials at ASUR declined to give a final figure or further details on the transaction. ADO officials could not be reached for comment.