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.
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.
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.
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