London | Macquarie Group has sold its trio of British airports to a Canadian pension fund giant for £1.53 billion ($3 billion), a gain of almost 50 per cent on the price it and Spanish co-owner Ferrovial paid a decade ago.
Macquarie had to sell AGS, which operates Southampton, Glasgow and Aberdeen airports, as part of the wind-down of a €2.75 billion ($4.5 billion) 10-year investment vehicle, Macquarie European Infrastructure Fund 4.
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Hans van Leeuwen covers British and European politics, economics and business from London. He has worked as a reporter, editor and policy adviser in Sydney, Canberra, Hanoi and London. Connect with Hans on Twitter. Email Hans at hans.vanleeuwen@afr.com
