Shearman & Sterling represented Credit Suisse and Accival as joint global coordinators for Grupo Aeroportuario del Pacifico’s (GAP) initial public offering.   The Mexican government was the selling stockholder for the global offering, selling their entire 85% stake in the company, making GAP's IPO the largest privatization out of Mexico in 15 years.  GAP is a holding company that operates 12 airports in the Pacific and central regions of Mexico, six of which rank among the top ten busiest airports in the country based on commercial aviation passenger traffic.

GAP’s global offering consisted of 414,652,751 series B shares, of which 290,256,520 series B shares were sold in the form of ADSs in the US market and internationally.  In addition, the underwriters had an option to purchase an additional 43,538,480 series B shares that was exercised.  The shares were offered in the form of ADSs at a price of US$21 per share.  Accival acted as bookrunner in the domestic offering.  Total gross proceeds for the global offering were US$962 million.  Following the offering, GAP’s shares began trading on the New York Stock Exchange under the ticker symbol "PAC" and on the Mexican Stock Exchange under the symbol "GAP."

Attorneys included partner Antonia Stolper (NY-CM), counsel Perry Bechky (WA-LT) and associates Schuyler Frautschi (SP - CM), Alejandro Gordano (NY-CM), Damien Grierson (NY-CM), Tanya Sheridan (FR-CM), Michael Sunwoo (NY-TX) and Tommaso Tosi (RO-CM).