Motiva completes R$ 12.21 billion sale of airport assets to Asur

Motiva has finalized the sale of its 20 airport operations to the Mexican group Grupo Aeroportuario del Sureste (Asur) for a total of R$ 12.21 billion. Following monetary adjustments from the initial November announcement of R$ 11.5 billion, the transaction includes R$ 5.187 billion in cash for equity and approximately R$ 7.024 billion to cover the assets' existing debts.

The deal received approval from competition authorities and concession powers in Brazil, Ecuador, Costa Rica, and Curaçao. Motiva intends to use the proceeds to reduce its consolidated leverage from 3.7x to approximately 3x, allowing the company to focus its capital on its core segments of highways and railways.

CEO Miguel Setas stated that the closure expands the company's capacity to invest in areas where it holds distinctive competencies. A transition period will follow to transfer assets, employees, and corporate systems to Asur management.