Grupo Aeroportuario del Sureste (ASUR) completed the acquisition of Motiva’s airport platform on September 1, 2026, for USD 992.2 million. The transaction adds interests in 20 airports across Brazil, Ecuador, Costa Rica and Curaçao, including 17 airports in Brazil, and gives ASUR direct exposure to Latin America’s largest aviation market by passenger traffic.
Grupo Aeroportuario del Sureste (ASUR) completed the acquisition of Motiva’s entire equity interest in Companhia de Participações em Concessões (CPC) on September 1, 2026, closing a transaction first agreed on November 18, 2025.
Grupo Aeroportuario del Sureste (ASUR) paid R$5.1 billion, equivalent to USD 992.2 million, for Motiva’s equity interest in Companhia de Participações em Concessões after customary closing adjustments. The transaction was financed through a loan facility arranged when ASUR submitted its acquisition offer.
The USD 992.2 million figure represents the price paid for Motiva’s equity interest in Companhia de Participações em Concessões, rather than the total enterprise value of the airport assets. When the agreement was announced in November 2025, Grupo Aeroportuario del Sureste valued the transaction at an implied enterprise value of approximately R$13.7 billion, or USD 2.57 billion.
Twenty airports, with Brazil at the center
Companhia de Participações em Concessões gives Grupo Aeroportuario del Sureste interests in 20 airports across Brazil, Ecuador, Costa Rica and Curaçao. The portfolio handled more than 48 million passengers in 2025, an increase of 6.1% year-on-year, and served more than 200 scheduled routes.
Brazil accounts for 17 of the 20 airports acquired through Companhia de Participações em Concessões. The Brazilian portfolio includes Belo Horizonte/Confins in Minas Gerais, Curitiba/Afonso Pena in Paraná, Foz do Iguaçu in Paraná, Goiânia in Goiás, Navegantes in Santa Catarina, São Luís in Maranhão, Teresina in Piauí, Palmas in Tocantins and Petrolina in Pernambuco, alongside several smaller regional airports.
Outside Brazil, Companhia de Participações em Concessões includes Quito International Airport in Quito, Ecuador; Juan Santamaría International Airport serving San José, Costa Rica; and Curaçao International Airport in Curaçao.
Brazil was already the main source of passenger traffic within the Companhia de Participações em Concessões portfolio before the September 2026 acquisition. The 20-airport platform handled approximately 44.7 million passengers in 2024, including around 31.5 million passengers at the Brazilian airports, equivalent to roughly 71% of total portfolio traffic.
The Brazilian share of the portfolio makes the September 2026 acquisition particularly significant for Grupo Aeroportuario del Sureste. ASUR enters Latin America’s largest aviation market through an established network of airports rather than through a gradual expansion based on individual concessions.
The 17 Brazilian airports expose Grupo Aeroportuario del Sureste to several distinct traffic segments. Belo Horizonte/Confins, Curitiba and Goiânia serve major metropolitan and business markets in Brazil, while Foz do Iguaçu in Paraná has a strong tourism profile and smaller airports such as Petrolina, Palmas and Imperatriz play important roles in regional connectivity.
ASUR enters four new aviation markets
Before September 1, 2026, Grupo Aeroportuario del Sureste concentrated its airport operations in Mexico, Colombia and Puerto Rico. ASUR’s existing portfolio included nine airports in southeastern Mexico, six airports in Colombia and a controlling interest in Aerostar Airport Holdings, the operator of Luis Muñoz Marín International Airport in San Juan, Puerto Rico.
The acquisition of Companhia de Participações em Concessões adds Brazil, Ecuador, Costa Rica and Curaçao to Grupo Aeroportuario del Sureste’s airport footprint. The transaction therefore expands ASUR from three principal airport markets to a much broader network across Latin America and the Caribbean region.
The newly acquired airport portfolio is also diversified by traffic profile. Quito International Airport in Ecuador and Juan Santamaría International Airport in Costa Rica provide exposure to major international gateways, while Curaçao International Airport strengthens Grupo Aeroportuario del Sureste’s presence in the Caribbean region.
The Brazilian airports acquired in September 2026 combine domestic aviation, international services, tourism, business traffic and regional connectivity. The mix reduces Grupo Aeroportuario del Sureste’s dependence on a single type of airport or passenger market within the newly acquired platform.
When Grupo Aeroportuario del Sureste announced the acquisition in November 2025, the company said the Companhia de Participações em Concessões airports would add more than 45 million annual passengers to an ASUR portfolio that had handled approximately 71 million passengers in 2024.
Seventeen of the 20 airport concessions acquired through Companhia de Participações em Concessões had more than 15 years remaining on their concession terms when the agreement was announced in November 2025. The remaining concession duration gives Grupo Aeroportuario del Sureste long-term exposure to several aviation markets across Latin America.
A broader Americas strategy
The September 2026 acquisition of Companhia de Participações em Concessões follows another expansion by Grupo Aeroportuario del Sureste outside its traditional airport operating markets.
Grupo Aeroportuario del Sureste completed the acquisition of URW Airports in December 2025, extending ASUR’s exposure to airport commercial activities in the United States. URW Airports manages retail, food and beverage and other commercial programs in terminals at major U.S. airports including Los Angeles International Airport in Los Angeles, Chicago O’Hare International Airport in Chicago and John F. Kennedy International Airport in New York.
The December 2025 acquisition of URW Airports and the September 2026 acquisition of Companhia de Participações em Concessões involve different business models. URW Airports gives Grupo Aeroportuario del Sureste exposure to non-aeronautical commercial activities, while Companhia de Participações em Concessões gives ASUR direct interests in airport concessions and operations.
The two acquisitions nevertheless broaden Grupo Aeroportuario del Sureste’s geographic presence across the Americas. The CPC transaction expands ASUR further into South America, Central America and the Caribbean region, while the URW Airports acquisition adds commercial exposure at major airports in the United States.
Motiva exits airport operations
Motiva received R$5.187 billion for its equity interest in Companhia de Participações em Concessões when the transaction closed on September 1, 2026. Motiva also reported R$7.024 billion in debt associated with the airport assets, placing the transaction value reported by the Brazilian infrastructure group at R$12.211 billion.
Motiva presented the September 2026 sale of Companhia de Participações em Concessões as part of a strategy to simplify its portfolio, unlock value from its airport assets and strengthen its financial capacity for future infrastructure investments.
The September 2026 transaction therefore reflects two different corporate strategies. Motiva is exiting airport operations, while Grupo Aeroportuario del Sureste is using the same 20-airport platform to accelerate its geographic expansion across Latin America and the Caribbean region.
Grupo Aeroportuario del Sureste is also acquiring an established multi-country airport platform rather than assembling a portfolio through separate concession awards. Companhia de Participações em Concessões already combines airport interests, corporate structures, operating teams and concession agreements across four markets.
Integration becomes the next challenge
Grupo Aeroportuario del Sureste began the operational transition of the Companhia de Participações em Concessões portfolio after the transaction closed on September 1, 2026. Motiva and ASUR established a transition period to transfer corporate, administrative and operating support systems while maintaining continuity across the airport network.
Motiva’s shared-services organization will temporarily continue supporting functions including payroll, procurement, information technology and other back-office activities during the transition to Grupo Aeroportuario del Sureste. Employees associated with the airport platform are also being transferred as part of the integration process.
The integration of Companhia de Participações em Concessões presents Grupo Aeroportuario del Sureste with a different challenge from the financial acquisition itself. ASUR must incorporate airport interests spread across Brazil, Ecuador, Costa Rica and Curaçao, with different concession structures, regulatory environments and passenger profiles.
The USD 992.2 million acquisition was completed on September 1, 2026, but the operational transformation of Grupo Aeroportuario del Sureste is only beginning. The next test will be how ASUR integrates a 20-airport platform serving more than 48 million passengers a year into its wider network across the Americas.
Sources: ASUR — Closing of the acquisition of Motiva’s airport interests in Brazil, Ecuador, Costa Rica and Curaçao, September 1, 2026. ASUR / SEC filing
How much did ASUR pay for Motiva’s airport platform?
Grupo Aeroportuario del Sureste paid R$5.1 billion, or USD 992.2 million, for Motiva’s equity interest in Companhia de Participações em Concessões when the transaction closed on September 1, 2026.
How many airports did ASUR add through the transaction?
Grupo Aeroportuario del Sureste added interests in 20 airports through Companhia de Participações em Concessões.
How many of the acquired airports are in Brazil?
Seventeen of the 20 airports are in Brazil. The remaining airports are located in Ecuador, Costa Rica and Curaçao.
How many passengers use the acquired airport portfolio?
The 20-airport portfolio handled more than 48 million passengers in 2025, up 6.1% year-on-year.
Which new markets does the acquisition add to ASUR’s network?
The September 2026 acquisition gives Grupo Aeroportuario del Sureste airport interests in Brazil, Ecuador, Costa Rica and Curaçao, in addition to its existing airport presence in Mexico, Colombia and Puerto Rico.
