Deal includes concessions at New York JFK, Los Angeles LAX, and Chicago ORD Airports
Grupo Aeroportuario del Sureste, (ASUR) and Unibail-Rodamco-Westfield (URW) wholly-owned subsidiary Westfield Development, Inc have entered into a purchase agreement to acquire all of the issued and outstanding equity interest of URW Airports, LLC for an enterprise value of US$295 million.
The acquired business manages select commercial programs at U.S. airports, including Terminals 1, 2, 3, 6, and Tom Bradley International Terminal and Tom Bradley International Terminal West at Los Angeles International Airport, Terminal 5 at Chicago O’Hare International Airport, and Terminals 8 and New Terminal One at John F. Kennedy International Airport.
The acquisition, which will be operated by ASUR’s subsidiary ASUR US Commercial Airports, LLC, represents ASUR’s strategic expansion into the U.S. airport retail concessions market.
The closing of the transaction, which is expected to occur during the second half of 2025, is subject to customary conditions precedent, it was announced at the end of July.
ASUR is funding the transaction with cash on hand and has secured debt financing from JPMorgan Chase Bank, N.A. to maintain liquidity.
