Vinci, Owner of Gatwick, Acquires Majority Stake in Edinburgh Airport for £1.3 Billion

Vinci, the French owner of Gatwick Airport, has finalised a deal worth £1.3 billion to acquire a majority stake in Edinburgh Airport from its American private equity owner, Global Infrastructure Partners (GIP).

Under the agreement, Vinci will hold a 50.01% stake in Scotland’s busiest airport, while GIP will retain the remaining 49.99%. The acquisition marks a significant step for Vinci’s expansion in the UK’s airport sector, following its previous acquisitions of Belfast International and Gatwick.

Edinburgh Airport, serving over 150 destinations, ranks as the sixth-largest airport in the UK by passenger numbers, with an estimated 14 million passengers expected this year. The deal is subject to regulatory approval and is anticipated to be finalised by summer.

Bayo Ogunlesi, GIP’s chairman and chief executive, expressed confidence in the partnership with Vinci, emphasizing their shared vision for Edinburgh Airport’s growth and sustainability goals. Nicolas Notebaert, president of Vinci’s airports business, highlighted plans to enhance connectivity, improve customer experience, and accelerate decarbonization efforts.

The transaction also includes Vinci acquiring a 50.01% stake in Crosswind Developments, responsible for a business and residential housing project adjacent to the airport. The existing leadership team at Edinburgh Airport, including chairman Sir John Elvidge and CEO Gordon Dewar, will continue in their roles under the new ownership structure.

Dewar expressed optimism about collaborating with Vinci and GIP, renowned investors and operators in the airport sector, to enhance customer service, advance decarbonization initiatives, and bolster Scotland’s international connectivity, thereby contributing to the country’s competitiveness and prosperity.

Source link

About The Author

Scroll to Top