Grupo Aeroportuario del Pacifico Announces Shareholder Approval of the Business Combination of the Cross Border Xpress and Technical Assistance Services
Rhea-AI Summary
Grupo Aeroportuario del Pacífico (NYSE: PAC) announced that at its Dec 11, 2025 Ordinary and Extraordinary General Shareholders' Meeting, with a 88.1% quorum, about 96% of votes cast approved the business combination of Cross Border Xpress (CBX) and the provision of technical assistance and technology transfer services.
The merger will consolidate various entities into GAP, including Aeropuertos Mexicanos del Pacífico (AMP). GAP expects to issue ~90 million net new shares, increasing outstanding shares from ~505 million to ~595 million.
The company said it followed international corporate governance standards and provided shareholders an information statement in advance.
Positive
- Shareholder approval received with ~96% of votes cast
- Plan to consolidate CBX and technical services under GAP control
- ~90 million net new shares to support the merger
Negative
- Outstanding shares estimated to rise from ~505M to ~595M (≈17.8% increase)
- Issuance of ~90M shares will dilute existing ownership percentages
Key Figures
Market Reality Check
Peers on Argus
PAC was up 0.98% with modestly positive moves in close airport peers like ASR (+0.75%) and CAAP (+0.51%), while broader industrials such as RTO (+1.34%) and BAH (+2.22%) also gained; JOBY lagged at -1.96%, suggesting mixed sector dynamics rather than a uniform airports trade.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 04 | Traffic update | Negative | -0.6% | November 2025 passenger traffic fell 2.0% versus 2024 levels. |
| Nov 07 | Traffic update | Negative | -0.8% | October 2025 passengers declined 0.8% with weaker international traffic. |
| Oct 31 | Hurricane operations | Positive | +2.4% | Montego Bay resumed operations for aid and limited commercial flights. |
| Oct 29 | Hurricane impact | Negative | -3.3% | Update on Hurricane Melissa’s disruption and staged reopening in Jamaica. |
| Oct 28 | Hurricane impact | Negative | -0.1% | Initial disclosure of airport closures in Jamaica from Hurricane Melissa. |
Over the last five news events, PAC’s share price consistently moved in the same direction as the tone of operational and disruption-related updates, showing no recent pattern of diverging from news sentiment.
Recent PAC news focused on traffic trends and Hurricane Melissa’s impact on its Jamaican airports. Traffic updates on Oct 28–29 and Nov 7–Dec 4 showed passenger declines and lower load factors, typically followed by modest share price declines. Operational restoration updates on Oct 31 around resuming flights in Jamaica coincided with a positive price move. Against this backdrop, the approval of the CBX business combination and related share issuance represents a strategic, corporate-structure milestone rather than an immediate traffic or weather-driven update.
Market Pulse Summary
This announcement detailed shareholder approval of the CBX business combination, with around 96% of votes cast in favor and plans to issue roughly 90 million new shares, increasing outstanding stock from about 505 million to 595 million. It shifts PAC’s structure by consolidating control of merged entities. In reviewing this, investors may track future disclosures on integration progress, capital allocation, traffic trends, and how these moves interact with the company’s existing Mexican and Jamaican airport concessions.
Key Terms
business combination financial
forward-looking statements regulatory
AI-generated analysis. Not financial advice.
GUADALAJARA, Mexico, Dec. 11, 2025 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) (“GAP”) announces that, during its Ordinary and Extraordinary General Shareholders’ Meeting, with a quorum of
Consequently, we expect to issue approximately 90 million net new shares and to acquire control of the merged entities, which will allow us to consolidate them. As of today, we have approximately 505 million shares outstanding, and we estimate that, upon delivery of the shares issued by virtue of the merger, we will have approximately 595 million shares outstanding.
The approval by our shareholders of the integration of CBX and the technical assistance and technology transfer services marks a fundamental milestone in our vision of taking GAP to a new stage of development. It is important to highlight that, throughout the proposal process, we applied the highest international standards of corporate governance, and that the transaction was approved by the will of the “majority of the minority” of our shareholders, as the strategic partner AMP and various potentially interested parties adhered their vote to that of the majority. In addition, we made an information statement regarding the transaction available to our shareholders well in advance of the legal requirement to provide them with supporting information for their decision-making process.
Company Description
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates 12 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 other mid-sized cities: Hermosillo, Guanajuato, Morelia, Aguascalientes, Mexicali, and Los Mochis. In February 2006, GAP’s shares were listed on the New York Stock Exchange under the ticker symbol “PAC” and on the Mexican Stock Exchange under the ticker symbol “GAP”. In April 2015, GAP acquired
This press release may contain forward-looking statements. These statements are statements that are not historical facts and are based on management’s current view and estimates of future economic circumstances, industry conditions, company performance, and financial results. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations, and the factors or trends affecting financial condition, liquidity, or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends, or results will occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.
In accordance with Section 806 of the Sarbanes-Oxley Act of 2002 and Article 42 of the “Ley del Mercado de Valores”, GAP has implemented a “whistleblower” program, which allows complainants to anonymously and confidentially report suspected activities that involve criminal conduct or violations. The telephone number in Mexico, facilitated by a third party responsible for collecting these complaints, is 800 04 ETICA (38422) or WhatsApp +52 55 6538 5504. The website is www.lineadedenunciagap.com or by email at denuncia@lineadedenunciagap.com. GAP’s Audit Committee will be notified of all complaints for immediate investigation.
| Alejandra Soto Investor Relations and Social Responsibility Officer | asoto@aeropuertosgap.com.mx |
| Gisela Murillo, Investor Relations | gmurillo@aeropuertosgap.com.mx +52 33 3880 1100 ext. 20294 |
FAQ
What did GAP (PAC) shareholders approve on December 11, 2025?
How many new GAP (PAC) shares will be issued for the merger?
What will GAP’s (PAC) outstanding share count be after the merger?
How large was the shareholder meeting quorum for GAP (PAC)?
Did the strategic partner AMP support the GAP (PAC) merger vote?
