Grupo Aeroportuario del Sureste, (ASUR), the first privatized airport group in Mexico, has announced it has signed agreements to acquire the controlling interest in two Colombian airport operators. 

The airport operators are Airplan, S.A. and Aeropuertos de Oriente S.A.S. Following consummation of the acquisitions, ASUR will own approximately 92.42% of the capital stock of Airplan and 97.26% of the capital stock of Oriente.

ASUR acquired the controlling interest for an aggregate price of US$262 million. ASUR expects to fund this payment with a combination of cash on hand and financing.

Airplan has concessions to operate the following airports in Colombia: 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.

Oriente operate these airports in the country: 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.

In 2016, the airports operated by Airplan and Oriente served approximately 10.4 million passengers and 5.2 million passengers, respectively. The concessions held by Airplan and Oriente have a term depending on the amount of revenues generated by the relevant airports. In the case of Airplan, the concessions have a minimum term until 2032 and a final expiration date of 2048. In the case of Oriente, the concessions have a minimum term until 2033 and a final expiration date of 2049.

The closing of the transaction remains subject to a number of conditions precedent, including regulatory approval by Colombian authorities such as the National Infrastructure Agency (Agencia Nacional de Infraestructura), which grants the airport concessions.