Oaktree Inks $430M Sale Of Puerto Rico Airport Stake

Law360, New York (May 30, 2017, 5:39 PM EDT) -- Funds managed by private equity firm Oaktree Capital Management LP have agreed to sell a 50 percent stake in the operator of the Luis Muñoz Marín International Airport in San Juan, Puerto Rico, for $430 million, the companies said Tuesday.

The agreement sees Canada’s Public Sector Pension Investment Board, or PSP Investments, and Mexican airport operator Grupo Aeroportuario del Sureste SAB de CV, or ASUR, picking up a total 50 percent interest in Aerostar Airport Holdings LLC, according to a statement. Aerostar has been the operator of the airport since Feb. 27, 2013.

Under the terms of the deal, PSP Investments...

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