France’s Vinci Airports announced the purchase of airports management portfolio of Airports Worldwide, a portfolio comprising operations at twelve airports, that includes a 48.75% stake in Juan Santamaria International Airport (SJO) in San José and a 45% stake in Daniel Oduber Quiros International Airport (LIR) in Liberia.
The deal, whose financial details were not disclosed, allows Vinci Airports to gain a foothold in the United States, the world’s biggest air transport market, and expanding its presence in Europe and Central and South America.
“This acquisition allows Vinci Airports to make a strategic move into the United States, giving it an entry point into the world’s largest air transport market,” the company said in a statement.
“The acquisition of the two main airports in Costa Rica, an increasingly popular tourist destination, strengthens VINCI Airports’ positions in South and Central America, where it manages the airports in Santiago, Chile and Salvador, Brazil, together with six airports in the Dominican Republic including the airport in Santo Domingo,” the statement read.
The San Jose and Liberia airports served 4.8 million and 1.1 million passengers in 2017 respectively, are under concession contracts, with residual terms of eight and 13 years.
In a separate statement, OMERS Infrastructure, the infrastructure investment manager of OMERS, the pension plan for municipal employees in the Province of Ontario, Canada, which is to sell its interests in Airports Worldwide to Vinci Airports, said the deal was expected to close later this year.