SAO PAULO (Reuters) -Mexico's Grupo Aeroportuario del Sureste (ASUR) signed a contract to buy the airport portfolio of Brazilian infrastructure operator Motiva for 11.5 billion reais ($2.16 billion), including net debt, Motiva said on Tuesday.

Airport operator ASUR will pay 5 billion reais for Motiva's stake in the assets, while the remaining amount will be carried out through net debt, according to a securities filing from Motiva. 

The sale, which still requires antitrust approvals, includes Motiva's stakes in 17 Brazilian airports and international hubs in Ecuador's capital Quito, Costa Rica's San Jose and Curacao. 

Reuters reported earlier this month, citing two sources, that ASUR had emerged as the leading bidder to buy Motiva's airport portfolio.

ASUR, which currently operates airports in Mexico, Colombia and Puerto Rico, said in a statement that the deal will add more than 45 million passengers per year to its portfolio of 71 million, based on 2024 numbers.

"The acquisition represents a stepping stone in ASUR's expansion strategy in the region, adding four new markets in Latin America and the Caribbean, including Latin America's largest aviation market by passengers, Brazil," the Mexican firm said.

For Motiva, the sale is part of a shift to focus on its core business. The firm expects its net debt leverage to fall to under 3 times from 3.5 times after the deal.

"As we move forward with recycling our capital and simplifying our portfolio, we expand our investment capacity in strategic segments for our company, especially highways and rail," Motiva Chief Executive Miguel Setas said in a statement.

The deal is expected to be concluded in the first half of 2026, according to ASUR.

($1 = 5.3218 reais)