ASUR Acquires URW Airports for $295 Million, Expanding U.S. Retail Operations

Written by Emily J. Thompson, Senior Investment Analyst

ASR.N+4.46%

Source: PRnewswire

Updated: 24 minutes ago

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Source: PRnewswire

Acquisition Completed: ASUR's subsidiary ASUR US Commercial Airports, LLC has completed the acquisition of URW Airports, LLC for $295 million, marking a strategic expansion in U.S. airport retail operations that is expected to enhance market share and commercial capabilities.
Operational Integration: This acquisition enables ASUR to manage key terminals at Los Angeles International Airport, Chicago O'Hare International Airport, and New York's John F. Kennedy International Airport, further strengthening its influence in the U.S. market.
Market Expansion: ASUR Airports will focus on airport and terminal development projects, leveraging this opportunity to grow its network in the U.S., enhance customer experiences, and drive commercial revenue growth.
Industry Leadership: ASUR, as an international airport operator, now holds concessions for 16 airports in the Americas, and this acquisition will further solidify its leadership position in the global airport operations sector.

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About ASR

Grupo Aeroportuario del Sureste SAB de CV (ASUR) is a Mexico-based holding company. It and its subsidiaries hold concessions to operate, maintain and develop approximately nine airports in the southeast region of Mexico, as well as over 10 airports in Colombia. The Company operates through segments, including Cancun airport and subsidiaries (Cancun), the Villahermosa Airport (Villahermosa), the Merida airport (Merida) and Services. The airports are located in Cancun, Cozumel, Merida, Huatulco, Oaxaca, Veracruz, Villahermosa, Tapachula and Minatitlan, Mexico, and in Medellin, Colombia, among others. Approximately eight Mexican and over 80 international airlines, including the United States-based airlines, such as American Airlines and United Air Lines are operating directly or through code-sharing arrangements in its airports. It provides airport security services at its airports through third-party contractors. It also provides firefighting, rescue and aircraft maintenance services.

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Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.