Grupo Aeroportuario del Pacifico to merge with Cross Border Xpress in a $2.2bn deal.

Grupo Aeroportuario del Pacifico, a Mexican company that operates and develops airports, agreed to merge with Cross Border Xpress, an enclosed pedestrian sky bridge that spans across the US-Mexico border, connecting a passenger terminal in San Diego directly to the Tijuana International Airport, in a $2.2bn deal. This transaction represents an important step for GAP. Internalizing the technical assistance and technology transfer services will support the continuity of functions that have been essential to the operation and development of GAP’s airports, while bringing these capabilities directly into the company as it enters its next phase of growth. The integration of CBX further strengthens GAP’s platform by incorporating a unique, dollar-denominated cross-border terminal that has become a key driver of passenger traffic at the Tijuana International Airport and a strategic connector between Mexico and the United States.