Grupo Aeroméxico has been given the go-ahead by Mexico's banking and securities regulator (Comision Nacional Bancaria y de Valores - CNBV) to launch a cash tender offer of its entire capital stock to delist from the Mexican Stock Exchange (Bolsa Mexicana de Valores - BMV).
In a statement, the airline announced it would offer to acquire 11,535,328 registered shares. The tender period would run from October 11 to November 8, 2022.
Aeroméxico will subsequently deregister the shares/its capital stock from the National Securities Registry (Registro Nacional de Valores). This is in accordance with a resolution of an extraordinary shareholders' meeting on June 27, 2022.
The company said the offering and subsequent deregistration were being carried out in compliance with contractual obligations assumed by Aeroméxico with its former creditors, now shareholders of the company, during its orderly restructuring process under Chapter 11 of the US bankruptcy code. On March 17, 2022, the Group announced it had concluded its financial restructuring process and had emerged from Chapter 11 following approval of its restructuring plan by creditors and the US Bankruptcy Court in New York.
The airline said several shareholders had contractually agreed not to participate in the offering and, thus, for the sole purpose of their participation in the offering were considered a controlling group.
