Swedish construction company Skanska has sold its entire 32% stake in Terminal B at New York’s LaGuardia Airport to existing partners Meridiam and Vantage Airport Group for $115m (€107m).

French fund manager Meridiam said it is increasing its interest in the airport terminal to 48% through the acquisition of an additional 16% stake in LaGuardia Gateway Partners (LGP) from Skanska. Vantage Airport has also agreed to buy the remaining 16% of Skanska’s interest for $57m.

George Casey, chair and CEO of Vantage Airport, said: “We thank the team at Skanska for their contributions. In partnership with the Port Authority of New York and New Jersey, Vantage will continue to steward Terminal B’s success with our additional ownership interest and continued management of this world-class airport terminal under our management services agreement.”

The LGP consortium, which also includes JLC Infrastructure was selected by the Port Authority of New York and New Jersey to finance, develop, and manage the new LaGuardia Terminal B, a $5.1bn, 35-gate terminal which was completed in July 2022.

Project engineering and construction of the terminal was conducted through a design-build joint venture led by Skanska as part of a public-private partnership with the Port Authority of New York and New Jersey.

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