Fri, Dec 19, 2014
Purchased By Spanish Consortium For About $1.64 Billion
Heathrow Airport Holdings Limited (“Heathrow”) has agreed to sell its 100% interest in Aberdeen International Airport Limited, Glasgow Airport Limited and Southampton International Airport Limited to a consortium formed by Ferrovial and Macquarie for £1,048 million (approx $1.64 billion) in cash and assumed debt, payable in full at closing.
At closing, the sale consideration will be increased to compensate Heathrow for the time delay between today and the closing date. In addition, the sale is subject to EU merger regulation clearance.
"Aberdeen, Glasgow and Southampton airports and their people have been part of our company for a long time. They are great airports and we are proud of their achievements," said John Holland-Kaye, Chief Executive of Heathrow. "We wish the new owners and our airport colleagues every success and are confident the airports will continue to flourish.
"This sale enables us to focus on improving Heathrow for passengers and winning support for Heathrow expansion. Heathrow is the UK’s only hub airport, connecting the whole of the UK to the world and bringing economic benefits locally and nationally."
The sale is expected to close no later than January 2015.
Aberdeen Airport is the gateway to Europe's energy capital. It is the world’s busiest commercial heliport, transporting more than 500,000 passengers in support of the North Sea oil and gas industry. Glasgow Airport is Scotland’s principal long-haul airport as well as Scotland’s largest charter hub. Approximately 7.4 million passengers and 80,000 flights pass through Glasgow every year. Southampton Airport is the "breeze through" airport for central southern England. Approximately 1.7 million passengers and 40,000 flights pass through Southampton every year.
(Image provided by Heathrow Holdings)
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