CCR paid US$24.5 million for a 40.8 per cent stake in the airport previously held by Brazilian conglomerate Camargo Corrêa. The deal closed on 22 October with Camargo Corrêa relying on in-house counsel.

CCR previously acquired stakes in airports in Central America and the Andean region. In September the infrastructure company paid US$50 million for a 48.75 per cent share in Aeris Holding Costa Rica, the concessionaire responsible for operating Juan Santamaría international airport, while four months earlier CCR paid US$150 million for a 45.5 per cent stake in Corporación Quiport, the concessionaire of Quito international airport. Both equity interests were previously held by Brazilian conglomerate Andrade Gutierrez, which turned to Azevedo Sette Advogados.

As Andrade Gutierrez and Camargo Corrêa are the controlling companies of CCR, an independent committee was set up to coordinate the negotiations and prevent conflicts of interest between the minority and controlling shareholders on all three deals. The committee was advised by the New York office of Davis Polk & Wardwell LLP, Brazilian firm Zancan Advogados, Costa Rica’s Consortium - Laclé & Gutiérrez, VanEps Kunneman Van Doorme in Curaçao and Ecuadorean firm Romero Arteta Ponce Abogados. Uruguay’s Ferrere also advised the committee on the Ecuadorean leg of the deal due to the involvement of Uruguayan corporations acting as holding entities for Corporación Quiport.