Grupo Aeroportuario del Sureste Acquires Controlling Stake in Colombian Airports; Raising FVE
We have increased our fair value estimate for wide-moat Grupo Aeroportuario del Sureste to $166 from $147 per ADR as we incorporate greater growth in 2018, stemming from the recently proposed acquisition of a Colombian concession. We believe this deal will more likely than not be consummated, but given limited disclosure at this point, a wide cone of uncertainty surrounds our passenger traffic and revenue per passenger assumptions surrounding this deal. Cancun again provided strong 8.6% traffic ...
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