PR Newswire
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
