Type to search


ASUR, PSP Investments acquire 50% stake in Aerostar

ASUR, already a 50 percent shareholder in Aerostar — which has been operating the LMM airport since February 2013 — acquired an additional 10 percent. (Credit: © Mauricio Pascual)

Grupo Aeroportuario del Sureste, S.A.B. de C.V., partner in Aerostar Airport Holdings, LLC and operator of the Luis Muñoz Marín International Airport in San Juan and the Public Sector Pension Investment Board, one of Canada’s largest pension investment managers, announced Tuesday their collective acquisition of a 50 percent interest in Aerostar Airport Holdings LLC.

They acquired the interest from funds managed by Oaktree Capital Management, L.P., representing a combined investment of $430 million. This transaction has received all required regulatory approvals.

ASUR, already a 50 percent shareholder in Aerostar — which has been operating the LMM airport since February 2013 — acquired an additional 10 percent, consolidating its total interest to 60 percent, while PSP Investments acquired a 40 percent interest in Aerostar.

Following the finalizing of the acquisition, ASUR expects to consolidate Aerostar’s results into its financial statements, executives said.

“We are extremely pleased to increase our participation in San Juan Airport,” said Adolfo Castro-Rivas, CEO of ASUR.

“ASUR is committed to continuing to offer world-class service to all of its customers,” he said. “We look forward to working closely with AviAlliance to provide further enhancements to operations and customer service, to benefit LLM´s passengers for the long term.”

AviAlliance is one of the world’s leading private industrial airport platforms with a portfolio composed of shareholdings in four European airports: Athens, Budapest, Düsseldorf and Hamburg airports.

“Our goal is to strengthen the operational quality and service level of the San Juan Airport, further supporting the continued economic development and potential of the San Juan area,” said Holger Linkweiler, Managing Director, AviAlliance.

Meanwhile, PSP Investments is one of Canada’s largest pension investment managers.

“This acquisition is an excellent fit with PSP Investments’ long-term investment philosophy and leverages the capabilities of AviAlliance, our airport platform,” said Patrick Charbonneau, managing director of Infrastructure Investments, PSP Investments.

“We look forward to complementing ASUR’s expertise with that of AviAlliance, to develop a constructive and lasting partnership dedicated to delivering best-in-class operations at San Juan Airport,” he said.

Author Details
Author Details
This story was written by our staff based on a press release.

Leave a Comment

Your email address will not be published. Required fields are marked *