Ferrovial and Macquarie fund acquire Aberdeen, Glasgow and Southampton Airports for GBP1,048 million
London, 16 October 2014
A 50:50 partnership between Ferrovial, through its subsidiary Ferrovial Aeropuertos, and Macquarie European Infrastructure Fund 4 (MEIF4) has today signed an agreement with Heathrow Airport Holdings Limited for the purchase of Aberdeen, Glasgow and Southampton Airports. The transaction is expected to complete no later than January 2015, and has an enterprise value of GBP1,048 million.
Iñigo Meirás, CEO, Ferrovial said: “As a long standing investor in the UK, we are aware of the importance of these airports for the population in their surrounding areas. The transaction proves how valuable these assets are for Ferrovial. We are committed to improve these facilities and their services looking to a better passenger experience and in order to grant access to further domestic and international destinations.”
Edward Beckley, European Head of Macquarie Infrastructure and Real Assets, the manager of MEIF4, said: “As the world’s leading infrastructure asset manager, Macquarie has a long and successful track record of investing in and developing airports around the world. We look forward to working with these airports over the long term to support route growth and enhance the passenger experience for the communities they serve.”
The three airports will continue to be managed locally to meet the needs of their local communities, with the added benefit of being supported by the joint ownership of Ferrovial and Macquarie. Sir Peter Mason, Chairman of Thames Water and former CEO of AMEC plc, will be appointed as Chair of the group on completion.
The airports will continue to operate under the ownership of Heathrow Airport Holdings Limited until the transaction completes. This is expected by no later than January 2015 and is subject to regulatory clearances and processes.
Notes to the Editors
Ferrovial, a leading operator of infrastructure and cities, is committed to developing sustainable solutions. The company has 65,000 employees and a presence in over 25 countries. Its main business areas are: Services, Toll Roads, Construction and Airports. It is a member of Spain's blue-chip IBEX 35 index and is also included in prestigious sustainability indices such as the Dow Jones Sustainability Index and FTSE4Good. For more information visit www.ferrovial.com
About Macquarie and MEIF4
Macquarie Group (Macquarie) is a global provider of banking, financial, advisory, investment and funds management services. Founded in 1969, Macquarie operates in more than 70 office locations in 28 countries, and has assets under management of over £237 billion*. Macquarie European Infrastructure Fund (MEIF4) is the fourth in a family of European infrastructure funds managed by Macquarie Infrastructure and Real Assets (MIRA). A division of Macquarie, MIRA is the world’s largest infrastructure asset manager investing on behalf of pension funds and institutional investors attracted to the positive long-term investment attributes of well-managed infrastructure. Headquartered in London, MIRA manages over 100 infrastructure businesses around the world, representing a total of £66 billion* in assets under management. For more information visit www.mirafunds.com
*at 31 March 2014
About Sir Peter Mason
Sir Peter has been Chairman of Thames Water since December 2006. He retired as CEO of AMEC plc in September 2006, and previously was Chairman and CEO of Balfour Beatty Limited. Sir Peter was the senior non-executive director of BAE Systems plc until May 2013 and until October 2008 was a board member of the 2012 Olympic Delivery Authority. He is currently a Non-Executive member of the Board of Spie SA and Senior Non-Executive Director of Subsea 7 SA. Sir Peter was made a Knight Commander of the British Empire (KBE) for services to International trade in 2002. He grew up in the Scottish town of Troon, studied at the University of Glasgow and spent the first part of his career working in central Scotland.
About Aberdeen, Glasgow and Southampton Airports
Aberdeen, Glasgow and Southampton airports are established, successful, independently operated airports, serving local business and leisure communities. Key statistics for the airports are as follows:
Rank by Total Passengers
Air Traffic Movements
|Number of Airlines & Operators||Number of Routes|
*CAA Statistics for UK Airports in 2013 by Total Passengers
Other data sourced from Airport websites
José Luis Cobas /+34 9158 66314 /
Martin Barrow / +44 20 7379 5151 /
Steve McCool / +44 20 3037 4411 /
Conor Magowan / +44 141 333 0557 /