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 Global Infrastructure Partners to Offload Majority Stake in Edinburgh Airport

IMAGE CREDIT: Edinburgh Airport

Global Infrastructure Partners to Offload Majority Stake in Edinburgh Airport

The New York-headquartered Global Infrastructure Partners (GIP), a leading infrastructure investor, on Wednesday said that it will sell 50.01% stake in Edinburgh Airport to VINCI Airports (VINCI), the world’s leading private airport operator for $1.58 billion.

The remaining 49.99% interest in Edinburgh Airport will continue to be managed by GIP upon the close of the transaction. Edinburgh Airport is Scotland’s busiest airport and the sixth busiest airport in the UK, offering flights to more than 150 destinations across 40 airlines.

The completion of the transaction is subject to the satisfaction of customary conditions including regulatory and competition clearances in relevant jurisdictions and it is expected to close in mid-2024.

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 CEO Gordon Dewar and other key leaders will remain in their roles.

Support Edinburgh Airport’s Growth

GIP Chairman and CEO Bayo Ogunlesi said that they have a strong and productive strategic relationship with VINCI and would continue to support Edinburgh Airport’s future growth and they remain committed to providing high-quality service to passengers.

Michael McGhee, GIP’s Deputy Chairman and Founding Partner said that this partnership underlines their commitment to Scotland and its capital city airport. We 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, he said.

“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,” he added.

Echoing similar feelings, Nicolas Notebaert, CEO of VINCI Concessions and President of VINCI Airports said that they were delighted to announce the expansion of our successful and strategic partnership with GIP to include Edinburgh Airport.

“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 decarbonisation 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,” Notebaert added.

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.

Global Business Magazine

Global Business Magazine

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