Listed airport operator, Grupo Aeroportuario del Sureste (ASUR), is all set to fully acquire the airport assets of Brazilian mobility infrastructure company, Motiva Infraestrutura de Mobilidade, for BRL5,000 million (USD936 million*).

Through its subsidiary, Aeropuerto de Cancún, Mexico’s ASUR will buy Companhia de Participações em Concessões (CPC), a wholly owned subsidiary of Motiva (formerly known as CCR), which holds equity stakes in 20 airports in Brazil, Ecuador, Costa Rica, and Curaçao.

The portfolio includes key country gateways such as Quito International (UIO) in Quito, Ecuador, the country’s busiest airport; the international airport of Juan Santamaria (SJO) in San José, Costa Rica; Curaçao International Airport (CUR); and Brazil’s Confins International (CNF) serving Belo Horizonte, and Pampulha (PLU), plus the regional Central Block gateways (x6) as well as the South Block (x9).

According to a statement from ASUR on November 18, the implied enterprise value of the CPC business is BRL13,700 million (USD2,566 million). While in the context of the transaction, CPC’s equity value has been assessed at BRL5,000 million, Motiva said, on the same day, this is “subject to certain adjustments to be made up to the closing of the transaction.”

Closing Expected in H1 2026

The completion date for the deal is expected during the first half of 2026, subject to customary conditions for this type of transaction. This will include approvals from government authorities in Brazil, such as Agência Nacional de Aviação Civil (ANAC), and abroad, as well as antitrust authorities.

ASUR has been pushing for more growth and diversification outside Mexico, where traffic growth in 2024 was modest, but has rebounded this year. The company already has operations in San Juan (SJU) in Puerto Rico, and six airports in Colombia—and in 2023, the company announced an investment in the new-build Bávaro International Airport in the Dominican Republic.

However, the Motiva agreement will propel ASUR into the top tier of Latin American airport operators, rivaling the South American arm of Spain’s Aena, and Corporación América Airports (CAAP) in scale.

Below, airportIR analyzes how this deal could transform the airport landscape in the region, and what it means for ASUR’s operations.

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