Mexican airport operator Grupo Aeroportuario del Pacifico SAB de CV (NYSE: PAC) (BMV: GAP) said a local paper has published a legal notice issued by the 38thjudge for civil matters in the Federal District that calls for an extraordinary shareholders´ meeting for GAP´s shareholders at the request of one of GAP´s shareholders
The shareholder is Grupo Mexico, SAB de CV (BMV: GMEXICO). The meeting is to be held on Tuesday, December 3, 2013.
According to the company, the main objective of the ESM will be the proposal, discussion and possible approval of the non-renewal of the Technical Assistance and Technology Exchange Contract, which was signed on August 25, 1999, by GAP, its subsidiaries and its strategic partner, Aeropuertos Mexicanos del Pacífic.
This contract is currently in effect.
AMP, as the company´s strategic partner, provides advisory and administrative services to the company; in addition, AMP shares technological expertise with the company across several areas, including commercial development activities, assistance in preparing master development programmes for each of the company´s airports, the preparation of market studies focused on increasing passenger traffic and improvements to airport operations.
Under the CATTT, GAP was awarded an exclusive license within Mexico for the use of all of the technical assistance and industry knowledge of AMP or its shareholders over the lifetime of the contract.
The contract is in effect until August 25, 2014. However, the CATTT automatically renews for a period of an additional 5 years unless one of the parties notifies its counterparties of the termination of the contract at least 60 days prior to the then-current termination date.
Grupo Aeroportuario del Pacífico operates twelve airports throughout Mexico´s Pacific region, including the major cities of Guadalajara and Tijuana, the four tourist destinations of Puerto Vallarta, Los Cabos, La Paz and Manzanillo, and six mid-sized cities.
Find out more at www.aeropuertosgap.com.mx.