Mexico City Airport Group agrees to pay $1.77 billion to investors

2/13/2019 – Reuters

15133119695_082747d30d_b.jpgMEXICO CITY (Reuters) – The government-run Mexico City Airport Group (GACM) said on Tuesday it has agreed to pay some 34 billion pesos ($1.77 billion) to investors who hold shares issued by a trust created to help finance the construction of the now-canceled airport.

The agreement would allow investors in the securities linked to the ditched project to get at least some of their money back.

President Andres Manuel Lopez Obrador announced the cancellation of the partially-built $13 billion airport in late October, dismissing the project as tainted by corruption and too costly.

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