GACN and ICA in $215 Million Secondary Follow-On Offering of GACN’s Series B Shares

Cleary Gottlieb represented Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., or “GACN”, and Empresas ICA, S.A.B de C.V., or “ICA”, as selling shareholder, in the global secondary follow-on offering of 69 million Series B shares of GACN, directly and in the form of American Depositary Shares (including the underwriters’ exercise of their option to purchase additional shares), by Aeroinvest, S.A. de C.V., ICA’s indirect wholly owned subsidiary.

The global offering to investors outside of Mexico was made pursuant to a shelf registration statement filed with the SEC. The global offering priced on July 9 and closed on July 12. The closing of the option to purchase additional shares took place on July 17. The shares were sold at a public offering price of Ps. 40.00 per Series B share and U.S.$24.76 per ADS.

BofA Merrill Lynch was the global coordinator and a joint bookrunner for the global offering, and Banco Bilbao Vizcaya Argentaria, S.A., Santander Investment Securities Inc., Barclays Capital Inc. and Morgan Stanley & Co. LLC were joint bookrunners for the global offering. Merrill Lynch México, S.A. de C.V., Casa de Bolsa, Casa de Bolsa BBVA Bancomer, S.A. de C.V., Grupo Financiero BBVA Bancomer, and Casa de Bolsa Santander, S.A. de C.V., Grupo Financiero Santander México, were joint bookrunners for the Mexican offering.

ICA is Mexico’s largest construction and infrastructure operations company. ICA carries out large-scale civil and industrial construction projects and operates a portfolio of long-term assets, including airports, toll roads, water systems, and real estate. Founded in 1947, ICA is listed on the Mexican and New York stock exchanges.

GACN operates 13 international airports in nine states of central and northern Mexico. GACN’s airports serve Monterrey, Mexico’s third largest metropolitan area, the tourist destinations of Acapulco, Mazatlán and Zihuatanejo and nine other regional centers and border cities. GACN also operates a hotel inside Terminal 2 of the Mexico City airport. GACN employs over 1,000 persons in order to offer passengers and clients, airport and commercial services in facilities that comply with all applicable international safety and security standards and ISO 9001:2008. GACN’s strategic shareholder members are ICA and Aéroports de Paris Management, subsidiary of Aéroports de Paris, the second largest European airports operator. GACN is listed on the Mexican Stock Exchange (OMA) and on the NASDAQ Global Select Market (OMAB).