Spanish infrastructure company Ferrovial has teamed up with Macquarie Infrastructure Fund to buy three regional British airports for £1.05 bn (€1.3 bn).
Spanish infrastructure company Ferrovial has teamed up with Macquarie Infrastructure Fund to buy three regional British airports for £1.05 bn (€1.3 bn).
Ferrovial and Macquarie Infrastructure Fund 4 will become owners on a 50-50 basis of Aberdeen and Glasgow airports in Scotland and Southampton airport in southern England.
The three airports were sold by Heathrow Airport Holdings (HAH), the owner of Britain's busiest airport.
Ferrovial has a 25% stake in HAH and is its largest shareholder alongside Qatar Holding, Caisse de depot et placement du Quebec, GIC, Alinda Capital Partners, China Investment Corp and the Universities Superannuation Scheme.
'We look forward to working with these airports over the long term to support route growth and enhance the passenger experience for the communities they serve,' commented Edward Beckley, European head of Macquarie Infrastructure and Real Assets, the manager of MEIF4.
Iñigo Meirás, CEO, Ferrovial added: 'As a long standing investor in the UK, we are aware of the importance of these airports for the population in their surrounding areas. The transaction proves how valuable these assets are for Ferrovial.'
The deal is expected to close no later than January 2015, and is subject to clearance from EU competition authorities.
