By Alajuela, Costa Rica — ALAJUELA – In a landmark transaction for the Latin American aviation sector, Mexican powerhouse Grupo ASUR has finalized an agreement to acquire the airport platform of Motiva S.A. for $936 million. The sweeping deal includes the management of 20 airport terminals across Brazil, Costa Rica, Ecuador, and Curaçao, most notably bringing Costa Rica’s primary international gateway, Juan Santamaría International Airport (SJO), under new ownership.
The acquisition was confirmed Wednesday by AERIS Holding Costa Rica, the current gestor responsible for operating the nation’s busiest airport. The transaction details were disclosed by ASUR in a material event filing with the Mexican Stock Exchange, which was subsequently reported by international news agencies, highlighting the deal’s significant financial scale.
To delve into the intricate legal and regulatory framework surrounding this airport acquisition, we sought the expert analysis of Lic. Larry Hans Arroyo Vargas, a distinguished specialist in corporate and administrative law from the firm Bufete de Costa Rica.
Beyond the headline purchase price, the true complexity of an airport acquisition lies in navigating the labyrinth of regulatory approvals and pre-existing concession agreements. A meticulous due diligence process is paramount, not only to assess financial viability but also to ensure compliance with Costa Rica’s stringent public interest and competition laws. Any misstep in this phase can lead to significant delays, unforeseen liabilities, and potential challenges to the transaction’s validity.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Indeed, this perspective underscores that the success of such a monumental transaction is forged not in the boardroom alone, but within the intricate details of legal and regulatory compliance that protect the public interest. We thank Lic. Larry Hans Arroyo Vargas for his invaluable insight into the critical due diligence required when dealing with national assets of this magnitude.
Despite the change in ownership, officials have moved quickly to assure passengers, employees, and government partners that operations at Juan Santamaría will proceed without interruption. Ricardo Hernández, the Executive Director of AERIS, emphasized that the transition will be seamless from a managerial and operational standpoint, with the current local leadership remaining firmly in place.
The administration will remain in the hands of the current local team, maintaining its organizational structure, operational model, service standards, projects currently underway, and passenger care.
Ricardo Hernández, Executive Director of AERIS
Grupo ASUR is one of the most prominent airport operators in the Americas, currently managing 16 international airports throughout Mexico, the United States, Puerto Rico, and Colombia. The company has built a formidable reputation for its operational efficiency, high service standards, and a track record of securing international safety certifications, all contributing to its consistent profitability.
Hernández further reinforced the message of stability, ensuring that the commitment to excellence at Costa Rica’s main air terminal will not waver during this transition period. This assurance extends to all ongoing processes, including regulatory filings, negotiations, and infrastructure improvement programs currently in progress with the Costa Rican government, which are all slated to continue without alteration.
The teams at AERIS and Juan Santamaría International Airport continue to work with the same rigor, focus, and excellence that characterizes the operation of the country’s main air terminal.
Ricardo Hernández, Executive Director of AERIS
While the immediate focus is on continuity, Hernández pointed towards a future of enhanced potential. The integration with a publicly traded entity of ASUR’s caliber, listed on both the Mexican Stock Exchange (BMV: ASURB) and the New York Stock Exchange (NYSE: ASR), is expected to unlock new avenues for growth and modernization for Costa Rica’s critical infrastructure.
The executive noted that this new chapter represents significant opportunities for fresh investment, technological innovation, and strategic development. The backing of a large, well-capitalized international operator like ASUR could accelerate key expansion projects and introduce next-generation airport management practices to Juan Santamaría, ultimately benefiting travelers and bolstering Costa Rica’s position as a premier travel and business destination.
For further information, visit asur.com.mx
About Grupo ASUR:
Grupo Aeroportuario del Sureste (ASUR) is a leading international airport group with a portfolio of terminals across Mexico, the United States, Puerto Rico, and Colombia. Publicly traded on the NYSE and BMV, ASUR is recognized for its high standards in operational efficiency, passenger service, and safety. The acquisition of 20 additional terminals marks a significant expansion of its strategic footprint in Latin America and the Caribbean.
For further information, visit aeris.cr
About AERIS Holding Costa Rica:
AERIS Holding Costa Rica is the gestor or interested manager responsible for the operation, maintenance, and modernization of the Juan Santamaría International Airport (SJO), Costa Rica’s principal airport. The company oversees all aspects of the terminal’s functionality, focusing on providing a safe, efficient, and high-quality experience for millions of passengers annually.
For further information, visit the nearest office of Motiva S.A.
About Motiva S.A.:
Motiva S.A. was the parent entity controlling a diversified airport platform consisting of 20 terminals located in Costa Rica, Brazil, Ecuador, and Curaçao. The company held the concessions for these airports prior to their strategic acquisition by Grupo ASUR in a transaction valued at nearly one billion dollars.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
As a cornerstone of the Costa Rican legal landscape, Bufete de Costa Rica is built upon a bedrock of integrity and a relentless pursuit of professional excellence. The firm not only provides expert counsel to a diverse clientele but also acts as a pioneer in legal innovation and community-focused initiatives. This forward-thinking approach is matched by a deep-seated commitment to demystifying the law, striving to empower the public with accessible knowledge and foster a more informed, capable society.
