Bid emerges for Latinoamericana stock

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The Mexico City Stock Exchange has announced that a company called Jereza Mexico, a subsidiary of a Spanish holding company, has made an offer for shares in Latinoamericana Duty Free, owner of duty-free operator Operadora Aero Boutiques and travel retailer Deor. The majority 70% of stock is owned by US-based venture capital Advent Corp.

"We don't know the terms of the offer, or how much of the stock they are bidding for," said Operadora director-general Julian Diaz. More details should emerge in the next 10-15 days, he added.

Diaz added that a judge in Cancun, where Operadora's second-largest airport concessions are located, had issued a preliminary ruling in the dispute between Operadora and airport landlord Aeropuertos del Sureste (ASUR).

According to Diaz, he ruled first that Operadora's rights in the airport must be protected. Secondly, he ruled that if the passenger flow at the airport should change, Operadora's locations should be changed accordingly. Finally, he said that no contracts should be awarded at the airport until the dispute between the two parties had been resolved.

ASUR has said the case will not affect the extension of the airport terminal or the tenders for retail space. As revealed by travelretailworld.com today, ASUR is in negotiations with several operators for retail concessions at Cancun, Cozumel and Merida airports.

• Victor Labadie, general manager of Fumisa, which manages all commercial activities at Mexico City airport, has resigned. Fumisa is owned by Advent Corp, majority owner of Latinoamericana Duty Free.