Macquarie flies high with $1.83bn airport deal
HEATHROW’S biggest shareholder and Macquarie Group are set to seize control of Glasgow, Aberdeen and Southampton airports.
HEATHROW’S biggest shareholder and Macquarie Group are set to seize control of Glasgow, Aberdeen and Southampton airports in a deal worth about £1 billion ($1.83bn).
Spain’s Ferrovial has teamed up with Macquarie to buy the three airports, which collectively handle about 13 million passengers a year, from Heathrow Airport Holdings.
The long-awaited sale has been delayed by Heathrow’s complex shareholding structure, but is expected to be announced within weeks. It is understood that Ferrovial, which owns a quarter of HAH, saw its bid delayed because other shareholders were keen for a competitive auction.
Last week, Macquarie sold its 50 per cent share of Bristol airport to the Ontario Teachers’ Pension Plan, in a deal said to be worth about £250m. The deal removes a competition hurdle to Macquarie’s investment.
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