GAP completes CBX merger and acquires remaining 25% stake

Grupo Aeroportuario del Pacífico (NYSE: PAC; BMV: GAP) completed the merger of Cross Border Xpress and technical assistance services operations through a notarized agreement signed April 30. The company also finalized the acquisition of the remaining 25% stake in CBX, giving it full ownership of the business.

The merger resulted in GAP issuing 89,740,731 new shares, bringing total outstanding shares to 595,018,195. The share structure now consists of 519,226,576 Series B shares and 75,791,619 Series BB shares. GAP assumed control of the merged entities and began financial consolidation of these businesses in May.

The transactions were previously approved by GAP's shareholders' meeting. The company operates 12 airports across Mexico's Pacific region, including facilities in Guadalajara, Tijuana, Puerto Vallarta, Los Cabos, and other cities. GAP also operates airports in Jamaica through its subsidiaries.

Cross Border Xpress operates a pedestrian bridge connecting the Tijuana airport terminal to a facility in San Diego, allowing passengers to access the Mexican airport from the United States side of the border.

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