(Updating to show photos available with story)
By Christine Murray and Julia Love
MEXICO CITY, March 23 (Reuters) - Funds controlled by the
family of Mexican billionaire Carlos Slim are set to acquire a
large chunk of an investment trust to fund Mexico City's new
airport, three sources with knowledge of the deal said, as
doubts hang over the project's future.
The placement came as leftist presidential frontrunner
Andres Manuel Lopez Obrador threatens to scrap the airport and
block new work on it. Slim's construction business has been one
of the biggest winners of work for the airport.
Slim's Grupo Financiero Inbursa, through vehicles including
pension fund Afore Inbursa, was allocated around 13 billion
pesos of certificates of the trust created to finance part of
the construction of the airport, said the people, who spoke on
condition of anonymity.
It represents the largest share of all the investors that
participated, the people said, and is more than one third of the
30 billion pesos ($1.62 billion) total raised on Friday by GACM,
the company responsible for building the airport.
Inbursa also worked on the deal as one of the underwriters,
and it sold on some of the certificates to clients, one of the
The allocation is not final until next week, said one of the
people. GACM did not respond to a request for comment. A
spokesman for Inbursa declined to comment.
Slim, who is Latin America's richest man, already has the
largest airport contract by far, which was awarded to a
consortium including his construction firm.
The 85 billion peso ($4.59 billion) contract for the
terminal building was for a group including Spain's Acciona
, Slim's Operadora Cicsa and several Mexican firms,
including builder ICA.
"Regardless of the financial stakes...I think he is very
interested in that the project succeeds," said Alejandro
Schtulmann, president of EMPRA, a political risk consulting firm
based in Mexico City.
The Slim family owns around 57 percent of the shares in
Inbursa, according to its latest annual report.
($1 = 18.5095 Mexican pesos)
(Reporting by Christine Murray and Julia Love
Additional reporting by Sheky Espejo
Editing by Leslie Adler)
First Published: 2018-03-24 01:53:10
Updated 2018-03-24 02:13:01
© 2018 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.