Anonymous - 2-16-2003 at 06:43 PM
MEXICO CITY, Feb 11, 2003 (El Economista/Corporate Mexico by Internet Securities, Inc. via COMTEX) -- Advent International will make an evaluative
investment in Mexican tourism with projects in Baja California Sur. The US$2.1-billion dollar private equity firm has allied with the Spanish
construction firm Obrasc?n Huarte La?n (OHL) to invest US$5 million in a series of studies and commercial projects in Loreto and Puerto Escondido to
evaluate the possibility of further investment.While OHL has developed tourist resorts in various destinations in Mexico, Advent became involved when
approached by Director John McCarthy of the National Fund for the Development of Tourism (Fonatur). McCarthy was trying to promote investment in the
Escalera N?utica, the plan to develop a series of 22 marinas on the coast of the Sea of Cort?s. While the current investment is relatively small, it
is the potential foundation for a substantial investment in the Escalera N?utica. If the companies decide not to expand their investment in the
region, the studies and projects of this evaluative investment will become property of Fonatur.
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