#Mexico #Mexico City #Grupo Aeroportuario #URW #airport retail

ASUR Expands Its Footprint with URW Acquisition

In a significant move to bolster its presence in the U.S. airports retail market, Grupo Aeroportuario del Sureste, S.A.B. de C.V. (commonly known as ASUR) has announced a deal to acquire Unibail-Rodamco-Westfield's (URW) retail concessions in key airport terminals. This acquisition is set to include major airports such as New York's JFK, Los Angeles LAX, and Chicago O'Hare, providing ASUR a strategic platform to enhance its operations and offerings in the bustling U.S. market.

Details of the Acquisition

On July 30, 2025, ASUR revealed that its subsidiary, ASUR US Commercial Airports, LLC, has entered into a purchase agreement with URW's wholly-owned subsidiary, Westfield Development, Inc. This agreement facilitates ASUR's acquisition of all issued equity interest in URW Airports, LLC, for a total enterprise value of $295 million USD. The acquisition will allow ASUR to manage commercial operations at several terminals across the U.S., including significant locations at:

• - Los Angeles International Airport (Terminals 1, 2, 3, 6, and Tom Bradley International Terminal)
• - Chicago O'Hare International Airport (Terminal 5)
• - John F. Kennedy International Airport (Terminals 8 and New Terminal One)

The transaction is expected to close in the latter half of 2025, pending the completion of customary conditions.

Funding and Support

To finance this procurement, ASUR will utilize its cash reserves while also securing debt financing from JPMorgan Chase Bank, N.A., ensuring sufficient liquidity throughout the process. Furthermore, ASUR's subsidiary, Aeropuerto de Cancún, S.A.B. de C.V., has provided a parent guarantee for the obligations stipulated in the purchase agreement, reinforcing the transaction's financial security.

Strategic Importance

This acquisition is a key component of ASUR's strategic growth plan, reflecting the company's intention to expand its footprint in the competitive U.S. airport retail sector. With this deal, ASUR aims to better position itself against existing players in the market, enjoying increased visibility among travelers frequenting these high-traffic locations. The move aligns with ASUR's broader strategy to enhance its portfolio while capturing a more significant share of the growing airport retail space.

Advisory Teams

In this complex transaction, ASUR has enlisted J.P. Morgan Securities, LLC as its exclusive financial advisor, while Cleary Gottlieb Steen & Hamilton LLP is serving as ASUR’s legal advisor. On the other side, URW has appointed RBC Capital Markets, LLC as its exclusive financialist, with Debevoise & Plimpton LLP providing legal advisement. This collaboration emphasizes the significance of the merger in the eyes of industry experts.

About ASUR

Grupo Aeroportuario del Sureste, S.A.B. de C.V. is a leading international airport operator in the Americas, overseeing a diverse portfolio of 16 airports, which includes nine in southeast Mexico and six in northern Colombia. The company plays a pivotal role in shaping the region's travel infrastructure, notably through its operation of Cancun Airport — one of the busiest tourist destinations in the Caribbean and Latin America. Besides its substantial investment in U.S. airports, ASUR is also a key stakeholder in Aerostar Airport Holdings, responsible for the management of San Juan's key airport, which serves as a major gateway for international travel. ASUR is publicly traded on both the Mexican Bolsa and the NYSE, reflecting its strong financial standing and commitment to growth.

About Unibail-Rodamco-Westfield

Unibail-Rodamco-Westfield stands as a prominent player in the real estate sector, focusing on sustainable, premium retail development and management in major global cities. The Group's portfolio includes 67 shopping centers across 11 countries, attracting over 900 million visitors annually. URW's commitment to urban regeneration through mixed-use developments underscores its role in enhancing the cultural and economic fabric of the communities it operates in.

In conclusion, this acquisition marks a significant milestone for ASUR as it expands its operations and enhances its footprint in the highly competitive U.S. airport retail market. With plans for future growth and sustainability, both ASUR and URW are poised to create a synergy that will ultimately benefit travelers and retailers alike.