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Overview
- ASUR will pay R$5 billion for equity and assume R$6.5 billion in net debt, with payment in cash at closing expected in 2026.
- The sale covers 20 airports handling about 45 million passengers a year, including Confins and Pampulha in Brazil plus assets in Curaçao, Ecuador and Costa Rica.
- Completion requires approvals from ANAC, antitrust authorities and creditors, and Motiva will keep operating the terminals with staff and contracts unchanged until transfer.
- Assets were priced at an EV/EBITDA multiple of 8.8x after a competitive process that drew bidders such as Aena, GAP and Corporación América.
- Motiva projects net debt/EBITDA to fall from roughly 3.5x to below 3x, with guidance indicating a net debt reduction to around R$23 billion and capacity to pursue highway and rail concessions.