Funds

Infrastructure funds prepare sales of airports in UK and Italy-sources


A aircraft taxis past the control tower at Edinburgh Airport in Scotland

A aircraft taxis past the control tower at Edinburgh Airport in Scotland April 23, 2012. REUTERS/David Moir/File Photo Acquire Licensing Rights

LONDON, Dec 1 (Reuters) – A group of infrastructure investors around Europe are working on the sale of their stakes in European airports, leveraging on the recovery of travel in the wake of the COVID-19 pandemic, according to bankers, investors and industry sources.

Among the largest of the airports that may see a change of ownership as soon as 2024 is Edinburgh, five of the sources said.

Its owner Global Infrastructure Partners (GIP) is working on the sale of its majority stake in a process that may value the airport at over 2.5 billion euros ($2.72 billion), according to two sources close to the situation, who spoke on condition of anonymity because the process is private.

AGS Airports, which oversees operations at Aberdeen, Glasgow, and Southampton airports and is owned by Macquarie and Ferrovial, may also follow, according to two people with knowledge of the plans.

Investors in 2i Aeroporti, which has a stake in the operator of Milan’s Linate and Malpensa airports, are also weighing a sale, according to three sources close to the matter.

The minority investors in 2i Aeroporti, Ardian and Credit Agricole Assurance, have hired Mediobanca and Credit Agricole to find a buyer for their 49% stake in the company, the people said.

Catania’s airport operator SAC also hired Mediobanca and law firm Gianni & Origoni to assist in the “preparatory and operational phase” of a privatisation process, SAC Chief Executive Nico Torrisi said in an emailed statement.

Ardian, GIP, Ferrovial, Macquarie, Credit Agricole, and Mediobanca declined to comment.

Reporting by Emma-Victoria Farr, Andres Gonzalez, Elisa Anzolin, additional reporting by Joanna Plucinska, Mathieu Rosemain, Editing by Anousha Sakoui and Elaine Hardcastle

Our Standards: The Thomson Reuters Trust Principles.

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Andres Gonzalez covers M&A for Reuters, based in London. With over 12 years of experience as a correspondent in Spain, he has reported on diverse sectors, including banking, TMT, energy, infrastructure and real estate. Andres has also reported on significant breaking news events, such as the Barcelona attacks and several general elections, showcasing his versatility and ability to handle critical and time-sensitive stories
Andres’ journalism career began at Reuters in Spain, where he honed his expertise in financial reporting. Seeking new challenges, he ventured into the world of Public Relations, working for Banco Santander with a particular focus on Wealth Management and Investment Banking divisions. His experience in both journalism and PR has provided him with a well-rounded perspective on the financial industry.
Contact: +34636287872

Emma-Victoria reports on mergers and acquisitions across Europe, with previous experience at Mergermarket, Bloomberg, The Daily Telegraph and Deutsche Presse Agentur.



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