An Exciting Acquisition by ASUR
MEXICO CITY and SAO PAULO - Grupo Aeroportuario del Sureste, S.A.B. de C.V. (NYSE: ASR) has taken a significant step towards expanding its footprint in the Americas by entering into a purchase agreement with Motiva Infraestrutura de Mobilidade S.A. This strategic move allows ASUR to acquire all equity interests in Companhia de Participações em Concessões (CPC), a wholly owned subsidiary of Motiva, for an impressive purchase price of R$5,000 million (around US$936 million).
Strengthening ASUR's Regional Position
This acquisition is a pivotal moment for ASUR, enabling it to tap into a portfolio that includes ownership interests in 20 airports across key regions such as Brazil, Ecuador, Costa Rica, and Curaçao. Among these, travelers may recognize major hubs including Quito International Airport in Ecuador and Juan Santamaria International Airport in Costa Rica. The move is poised to add over 45 million passengers to ASUR's existing passenger base, significantly bolstering its leading position in airport operations across the Americas.
Financial Aspects of the Deal
The deal values CPC at an implied enterprise value of R$13,700 million (approximately US$2,566 million). Notably, CPC achieved an EBITDA of R$2,000 million (around US$375 million), indicating a healthy revenue stream for ASUR while successfully managing net financial debt of R$6,300 million (approximately US$1,180 million).
Looking Ahead: What This Means for ASUR
The acquisition positions ASUR strategically within Latin America’s largest aviation market, Brazil. This not only extends ASUR’s presence but also introduces it to new markets in the Caribbean and Central America. This process involves gaining control of significant airports that have substantial concession life left, with 17 out of the 20 airports having over 15 years in their operational concession agreements.
Expected Closure and Funding
Currently, the closure of this meaningful transaction is anticipated during the first half of 2026, pending customary conditions. ASUR has planned funding through available cash and committed debt financing, primarily managed by JPMorgan Chase Bank, N.A., which serves as the financial advisor for this acquisition.
Roles of Advisors and Counsel
Throughout this process, J.P. Morgan Securities LLC is playing a crucial role as the exclusive financial advisor. Legal guidance is being provided by esteemed firms such as BMA Advogados, CorralRosales, Deloitte, and others who are ensuring that all aspects of the acquisition are securely managed and compliant with applicable regulations.
About Grupo Aeroportuario del Sureste
Founded as a major global airport operator, ASUR manages a diverse portfolio of 16 airport concessions across the Americas. This includes nine bustling airports in southeast Mexico and several critical sites in Colombia. Additionally, ASUR holds a 60% stake in Aerostar Airport Holdings, which operates Luis Muñoz Marín International Airport, an essential gateway for both international and mainland US connections.
About Motiva Infrastructure
Motiva is recognized as a leading mobility infrastructure company in Brazil, overseeing operations spanning multiple transport sectors including roads, railways, and airports. With an extensive workforce of over 16,000 employees, they manage significant transport networks that facilitate daily services and passenger movement.
Frequently Asked Questions
What is the significance of this acquisition for ASUR?
This acquisition allows ASUR to expand its operations into key markets in Latin America, boosting its passenger volume significantly.
How much is ASUR paying for the acquisition?
ASUR has agreed to acquire CPC for R$5,000 million, equivalent to approximately US$936 million.
When is the expected closing date of the transaction?
The transaction is expected to close in the first half of 2026, contingent upon customary conditions being met.
What is CPC's role in this acquisition?
CPC is a wholly owned subsidiary of Motiva, and its portfolio includes equity interests in 20 airports essential to the acquisition.
Who are the advisors involved in this transaction?
JPMorgan Chase Bank, N.A. is acting as the financial advisor, while several law firms provide legal counsel throughout the process.
