MEXICO CITY and SAO PAULO, Nov. 18, 2025 – Grupo Aeroportuario del Sureste, S.A.B. de C.V. (NYSE:ASR; BMV:ASUR) (“ASUR”), the leading airport operator in Latin America, is significantly expanding its footprint with the acquisition of Companhia de Participações em Concessões (“CPC”) from Motiva Infraestrutura de Mobilidade S.A. (B3: MOTV3) (“Motiva”). The deal, valued at R$5,000 million (approximately US$936 million) for the equity, implies an enterprise value of R$13,700 million (approximately US$2,566 million). This strategic move instantly catapults ASUR into Brazil, Latin America’s largest aviation market, and strengthens its presence across the region.
CPC’s portfolio comprises equity interests in 20 airports across Brazil, Ecuador, Costa Rica, and Curaçao, including key aviation hubs such as Quito International Airport, Juan Santamaria International Airport in San Jose, Costa Rica, Curaçao International Airport and Confins International Airport in Brazil. The acquisition also includes strategic airport assets such as Pampulha airport, the Bloco Sul airports, and the Bloco Central airports in Brazil.
The portfolio reported EBITDA for the twelve-month period ending September 30, 2025, on an 100% basis, of R$2,000 million (US$375 million) and, on a proportionate basis to CPC’s stake, of R$1,300 million (US$243 million). Net financial debt stood at R$6,300 million (US$1,180 million) as of September 30, 2025, on an 100% basis.
Strategic Rationale and Market Impact:
This acquisition adds four new markets, including Brazil, to ASUR’s portfolio, complementing its existing operations in Mexico, Colombia, and Puerto Rico. By absorbing CPC’s portfolio, ASUR anticipates adding over 45 million passengers to its 2024 tally of 71 million, solidifying its position as the dominant airport operator in the Americas. Significantly, 17 of the 20 airports in CPC’s portfolio boast concession terms extending beyond 15 years, providing a stable long-term revenue outlook for ASUR.
Analysts are closely watching this deal, noting its potential to unlock significant synergies. “ASUR’s expertise in airport management and operational efficiency could be leveraged to improve the performance of the acquired airports,” says one industry expert. “The deal also diversifies ASUR’s geographic risk and provides exposure to high-growth emerging markets.” However, integration challenges and the potential impact of macroeconomic factors in Brazil remain key considerations.
Financing and Regulatory Approvals:
ASUR plans to finance the acquisition through a combination of existing cash reserves and committed debt financing from JPMorgan Chase Bank, N.A. J.P. Morgan Securities LLC acted as the exclusive financial advisor, with legal counsel provided by BMA Advogados, CorralRosales, Deloitte, De Cuba Ormel Noordhuizen and Brown Lawyers.
The closing of the transaction, anticipated in the first half of 2026, is contingent upon customary closing conditions, including regulatory approvals. Market observers anticipate scrutiny from competition authorities in Brazil, given ASUR’s increased market share following the acquisition.
About ASUR:
Grupo Aeroportuario del Sureste, S.A.B. de C.V. (ASUR) is a leading international airport operator with concessions to operate, maintain, and develop 16 airports in the Americas. This includes nine airports in southeast Mexico, notably Cancun Airport, a key tourist destination in Mexico and the Caribbean. ASUR also operates six airports in northern Colombia, including Medellin international airport (Rio Negro), Colombia’s second busiest airport. Additionally, ASUR holds a 60% JV partnership in Aerostar Airport Holdings, LLC, operator of the Luis Muñoz Marín International Airport in San Juan, Puerto Rico.
ASUR is listed on both the Mexican Bolsa (ASUR) and the NYSE (ASR).
About Motiva:
Motiva Infraestrutura de Mobilidade S.A. (Motiva) is the largest mobility infrastructure company in Brazil, operating in the Toll Road, Railways, and Airport segments. With 37 assets across 13 Brazilian States, Motiva manages 4,475 kilometers of toll roads, a railway platform that transports 750 million passengers annually, and 20 airports, 17 in Brazil and three abroad. The Company is listed on B3’s sustainability index. For more information, visit www.motiva.com.br.
1 Equity value of CPC
2 Assuming a conversion USDBRL exchange rate of 5.34
3 Enterprise value on an 100% ownership of all the subsidiaries of CPC
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