MEXICO CITY May 10 Mexican construction
company ICA may sell its stake in airport operator Grupo
Aeroportuario del Centro Norte (OMAB.MX) to investment fund
Advent, a columnist with El Universal daily said on Tuesday.
Columnist Alberto Aguilar said negotiations between ICA
ICA.N (ICA.MX) and the fund were going on for a while and
that both sides could strike a deal soon. He did not cite
specific sources for the information.
ICA and Advent International representatives were not
immediately available for comment. The private equity firm has
other operations in Latin America, including Brazil and
ICA holds a majority stake in OMA, which operates 13
airports in Mexico. Foreign investors cannot hold more than 25
percent in airlines or airport operators, which are considered
among the country's strategic assets.
Analysts asked ICA managers during a conference call last
week about the possibility of an OMA stake sale, as they have
"An asset like OMA has a lot of attractiveness and we have
been approached by some firms," an executive said last Tuesday,
but said there were no formal bids.
ICA's airport business posted sales of 620 million pesos in
the first quarter, about 7 percent of revenue, and contributed
close to 17 percent of ICA's earnings before interest, tax,
depreciation and amortization during the period.
Shares of the construction company rose 1.07 percent to
28.25 pesos in Mexico while its New York-traded stock added
0.93 percent to $9.72.
(Reporting by Cyntia Barrera Diaz. Editing by Robert