ASUR receives first regulatory approval for Colombia airport acquisitions

asurAirport group ASUR, Grupo Aeroportuario del Sureste, S.A.B. de C.V, announced that it has received regulatory approval to consummate its acquisition of Airplan, S.A.

Airplan has concessions to operate the airports in Colombia that include the Enrique Olaya Herrera Airport and José María Córdova International Airport in Medellín, the Los Garzones Airport in Montería, the Antonio Roldán Betancourt Airport in Carepa, the El Caraño Airport in Quibdó and the Las Brujas Airport in Corozal.

Following completion of the acquisition, ASUR will own approximately 92.42% of the capital stock of Airplan. The finalization of the Airplan acquisition is expected by the end of October.

ASUR has not yet received regulatory approval to consummate  a second acquisition in Colombia of Aeropuertos de Oriente S.A.S. (Oriente).

ASUR reports that, in light of the pending regulatory approvals for the acquisition of Oriente, the sellers and ASUR have agreed to negotiate in good faith an adjustment to the purchase price and the terms and conditions of their acquisition agreement, and to use commercially reasonable efforts to obtain the relevant regulatory approvals.

Oriente has concessions to operate the following airports in Colombia: the Simón Bolivar International Airport in Santa Marta, the Almirante Padilla Airport in Riohacha, the Alfonso López Pumarejo Airport in Valledupar, the Camilo Daza International Airport in Cúcuta, the Palonegro International Airport in Bucaramanga and the Yariguíes Airport in Barrancabermeja.

If the Oriente acquisition is concluded, ASUR will own approximately 97.26% of the capital stock of Oriente.

ASUR was the first privatized airport group in Mexico and operates Cancun Airport and eight other airports in southeast Mexico, and is a JV partner in Aerostar Airport Holdings, LLC, operator of the Luis Muñoz Marín Inter-national Airport in San Juan, PR.