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30-Jul-2012 4:09 AM

San Juan airport tender won by Aerostar, an ASUR–Highstar Capital consortium

Analysis

An unusual alliance between a Mexican operator of nine airports with limited experience of foreign operations and a US investment fund manager with one small airport investment in Europe has won the tender for the lease on San Juan Luis Muñoz Marín International Airport.

This is the second time Puerto Rico, a US territory, has handed over a publicly or government-owned asset to a private concern in a public-private partnership (PPP).

Puerto Rico, via its Public-Private Partnership Authority (PPPA), auctioned its Puerto Rico Highway 22 in a toll road concession in 2011. It is notable how often toll road concessions precede airport concessions in the Americas, including the US (Chicago).

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