Mexico Airport Operator GAP Comes to Jamaica and Feels All Right
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For a Mexican airport operator with runways in some of the country’s most sought-after beach resorts, it’s the company’s first international foray that’s sparking a rally in the shares.
Grupo Aeroportuario del Pacifico SAB, which operates the airports in Los Cabos, Puerto Vallarta and 10 other Mexican cities, agreed in April to buy Sangster International Airport in Montego Bay, Jamaica, for $190 million. That’s helped drive the stock to a 44 percent gain this year -- the most on Mexico’s benchmark index.