Puerto Rico Chooses Airport Privatizer In $2.6B Deal

By Liz Hoffman (July 19, 2012, 7:41 PM EDT) -- A joint venture of New York fund manager Highstar Capital and Mexican airport operator Grupo Aeroportuario del Sureste SAB de CV emerged Thursday as the winning bidder in a $2.6 billion deal to operate San Juan's airport, which becomes the first U.S. airport to find itself completely in private hands.

Aerostar Airport Holdings LLC, an equal partnership between Highstar Capital and ASUR, which operates nine airports in Mexico, won a 40-year concession to operate and lease the Luis Munoz Marin International Airport in San Juan, Puerto Rico, pending approval from federal regulators.

Aerostar will make an upfront payment of $615 million,...

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