Copenhagen Airports Sells Stake in ITA

28 June 2010 (Last Updated June 28th, 2010 18:30)

Copenhagen Airports (CPH) in Denmark will sell its 49% aggregate interest in Inversiones y Tecnicas Aeroportuarias (ITA) to its local Mexican business partner Fernando Chico Pardo. Since 1999 CPH has held a 49% share in ITA with the remaining 51% owned by Fernando Chico Pard

Copenhagen Airports (CPH) in Denmark will sell its 49% aggregate interest in Inversiones y Tecnicas Aeroportuarias (ITA) to its local Mexican business partner Fernando Chico Pardo.

Since 1999 CPH has held a 49% share in ITA with the remaining 51% owned by Fernando Chico Pardo.

Of the sale's proceeds CPH will use up to DKK400m ($75.6m) to retire debt.

Once the sale is complete, CPH will no longer hold any interest in ITA and will no longer have an agreement to act as key airport partner in ITA.

ITA holds a 3.75% interest in Mexican Airports operator ASUR.