Bloomberg News

Asur Surges on Puerto Rico Airport Victory: Mexico City Mover

July 19, 2012

Grupo Aeroportuario del Sureste SAB, the operator of airports in southern Mexico including Cancun, surged to a record after a unit it co-owns won a bid to operate an airport in Puerto Rico.

Asur, as the company is known, climbed 7.2 percent to 112.17 pesos at 12:23 p.m. in Mexico City, the most on a closing basis since July 2009. Shares touched 113.08 pesos, a record intraday high. It was the best performer on the benchmark IPC index (MEXBOL) of 35 Mexican companies, which slipped 0.5 percent.

Aerostar Airport Holdings, owned by Mexico City-based Asur and a private equity fund known as Highstar Capital IV, will enter into a 40-year lease of Luis Munoz Marin International Airport in San Juan, according to a statement distributed by PR Newswire. Aerostar will pay the Puerto Rico Ports Authority an upfront fee of $615 million.

Asur has gained 43 percent this year, the third-best performance on the IPC index after Grupo Financiero Banorte SAB and Alfa SAB.

To contact the reporter on this story: Jonathan J. Levin in Mexico City at jlevin20@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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