Three major international airports in
the UK have been sold by owners Heathrow Airport Holdings (HAH) in a £1 billion
deal.
Glasgow and Aberdeen airports have been
sold to a consortium comprising Ferrovial Aeropuertos and Macquarie in an
overall in a deal worth £1.04 billion.
The deal, which also includes
Southampton Airport, is a 50/50 partnership between Spanish industrial group
Ferrovial's subsidiary Ferrovial Aeropuertos and Macquarie European
Infrastructure Fund 4 (MEIF4).
The deal is expected to complete by
January 2015, subject to regulatory approval, and will continue to be operated
by Heathrow Airport Holdings Ltd in the interim.
Heathrow Airport Holdings said in a
statement the deal, in cash and assumed debt, payable in full at closing, and
the total sale price will be “increased to compensate Heathrow for the time
delay between today and the closing date”.
Ferrovial already part-owns Heathrow,
the UK's busiest airport, and holds a 25 per cent stake in HAH, which was previously
known as BAA.
The deal means HAH will now operate only
its flagship London hub. The company had previously operated seven airports but
an inquiry by the Competition Commission ordered it to be broken up.
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