Vinci says $820 mln used to buy Mexico airport stake, not renovation as governor claimed

Grupo Aeroportuario Del Centro Norte SAB De CV

20/12/2022 20:28

MEXICO CITY, Dec 20 (Reuters) - France's Vinci  SGEF.PA 
on Tuesday clarified that it was not currently investing $820
million in renovating a key Mexican airport, saying that the
figure cited by a local government was in fact the price of a
major stake purchase, after debt. 
    A spokesperson for the French construction and concessions
firm told Reuters that after agreeing to buy Fintech Advisory's
29.99% stake in Mexican airport operator OMA  OMAB.MX  for $1.17
billion, Fintech had used $350 million to pay back debts.
    "The nature of this flow is indeed the acquisition of a part
of the shares of OMA, and not investments planned in the
airports OMA manages," Vinci said in an email.
    The governor of Mexico's northern state of Nuevo Leon,
Samuel Garcia, said on Monday following a meeting with Vinci's
chief executive that $820 million would go towards renovating
the key Monterrey airport. 
    OMA confirmed that the sum was related to the finalization
of the stake acquisition, adding that it was in the process of
expanding and renovating the major international airport.
    The Nuevo Leon press office did not immediately respond to a
request for comment Tuesday.
 (Reporting by Sarah Morland and Kylie Madry; Editing by Cynthia
Osterman)
 ((sarah.morland@thomsonreuters.com;))