Global Infrastructure Partners is selling a 50.01% stake in
Edinburgh Airport to VINCI Airports for £1.27 billion
Strategic partnership to facilitate the next chapter of
Edinburgh Airport's growth and development
NEW
YORK, April 17, 2024 /PRNewswire/ --
Global Infrastructure Partners ("GIP"), a leading
infrastructure investor, announced today that it has entered into a
binding agreement to sell a 50.01% stake in Edinburgh Airport to
VINCI Airports ("VINCI"), the world's leading private airport
operator for £1.27 billion.
The remaining 49.99% interest in Edinburgh Airport will
continue to be managed by GIP upon the close of the
transaction.
As part of the agreement, GIP and VINCI will jointly lead
investment in, and development of, Edinburgh Airport and establish
a long-term strategic partnership for the airport's future
development, similar to the successful partnership established in
2019 at Gatwick Airport.
Edinburgh Airport's Chairman Sir John Elvidge and Chief Executive Officer
Gordon Dewar will, along with other
key leaders, remain in their roles.
"We are excited to partner with VINCI, with whom we have a
strong and productive strategic relationship, to continue to
support Edinburgh Airport's future growth," said Bayo Ogunlesi, Global Infrastructure Partners'
Chairman and Chief Executive Officer. "We remain committed to
providing high-quality service to passengers. We are very pleased
VINCI shares our vision of Edinburgh Airport's future."
"This partnership underlines our commitment to
Scotland and its capital city
airport. We are excited to extend our partnership with VINCI to
deliver on our shared aspirations for the future of Edinburgh
Airport, including our promise to support the airport's 2030
sustainability commitments," said Michael
McGhee, Global Infrastructure Partners' Deputy Chairman and
Founding Partner. "We are pleased the senior leadership team will
remain in place under the chairmanship of Sir John Elvidge. Their focus remains on the
long-term growth, modernisation and sustainability of the airport
and on continuing to improve passenger service."
"We are delighted to announce the expansion of our
successful and strategic partnership with GIP to include Edinburgh
Airport," said Nicolas Notebaert,
Chief Executive Officer of VINCI Concessions and President of VINCI
Airports. "Together with GIP, VINCI Airports will continue the
strategy of growing connectivity and developing commercial
activities, whilst also leveraging VINCI Airport's international
expertise to accelerate decarbonization and continually improving
customer experience. This acquisition of a third freehold airport
in the UK, in addition to London Gatwick and Belfast International,
demonstrates VINCI Airports' long term strategic ambition and
continued commitment to the country."
Edinburgh Airport is Scotland's busiest airport and the sixth
busiest airport in the United
Kingdom, offering flights to more than 150 destinations
across 40 airlines.
As part of the transaction, Crosswind Developments, which
is promoting an important business and residential development
adjacent to the airport, will assume the same ownership structure
as the airport. Its management team and strategy will remain, with
Chairman Steve Dunlop and Chief
Executive Officer John Watson
continuing in their respective roles.
The completion of the transaction is subject to the
satisfaction of customary conditions including regulatory and
competition clearances in relevant jurisdictions. The transaction
is expected to close in mid-2024.
About Global Infrastructure Partners
Global Infrastructure Partners (GIP) is a leading
infrastructure investor that specialises in investing in, owning
and operating some of the largest and most complex assets across
the energy, transport, digital infrastructure and water and waste
management sectors. With decarbonisation central to our investment
thesis, we are well positioned to support the global energy
transition. Headquartered in New
York, GIP has offices in Brisbane, Dallas, Hong
Kong, London, Melbourne, Mumbai, Singapore, Stamford and Sydney.
In aviation, GIP is also a major investor in Gatwick
Airport, Sydney Airport and Signature Aviation.
In Scotland, GIP is
invested in Edinburgh Airport, Crosswind Developments, Scotland Gas
Networks owner SGN and Clydeport owner Peel Ports.
GIP has approximately $112
billion in assets under management. Our portfolio companies
have combined annual revenues of approximately $73 billion and employ over 115,000 people. We
believe that our focus on real infrastructure assets, combined with
our proprietary origination network and deep operational expertise,
enables us to be responsible stewards of our investors' capital and
to create positive economic impact for
communities.
For more information, visit
www.global-infra.com.
About VINCI Airports
The world's leading private airport operator, VINCI
Airports operates more than 70 airports in 13 countries. Thanks to
its expertise as a global integrator, VINCI Airports develops,
finances, builds and manages airports by providing its investment
capacity and its know-how in optimizing operational performance,
modernizing infrastructure and managing their operations and
environmental transition. VINCI Airports is the first airport
operator to have committed to an international environmental
strategy in 2016, to achieve the goal of net zero emissions across
its entire network by 2050.
For more information:
www.vinci-airports.com
@VINCIAirports
https://www.linkedin.com/company/vinci-airports/
About Edinburgh Airport
Edinburgh Airport is Where Scotland Meets The World. As
Scotland's busiest airport, it
will welcome almost 15 million people through its doors in 2024
thanks to its global connectivity. It connects with major hubs in
the UK, Europe, USA, and the Middle and Far East, ensuring
seamless connections for travellers.
Working with 35 airlines and flying to 155 destinations,
the airport is a major economic driver for Scotland. A report from BiGGAR economics in
2020 found that Edinburgh Airport generated £1.4 billion Gross
Value Added (GVA) and 28,000 jobs in the Scottish economy. The
airport strives to build on that contribution and grow responsibly
through its Greater Good sustainability strategy, ensuring a
sustainable future for aviation in Scotland and for the airport and the people it
benefits.
Media Inquiries:
Global Infrastructure Partners
(GIP):
Mustafa Riffat
mustafa.riffat@global-infra.com
Charlotte Street Partners:
Malcolm Robertson +44 7788
567680
Tom Gillingham +44 7741 659021
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SOURCE Global Infrastructure Partners