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Gatwick owner pens deal to buy Edinburgh Airport

Published 17/04/2024, 11:48
© Reuters.  Gatwick owner pens deal to buy Edinburgh Airport

Proactive Investors - French firm Vinci (LON:0NQM) has agreed to buy a majority stake in Edinburgh Airport for £1.27 billion.

Some 50.01% of the airport will be bought from Global Infrastructure Partners (GIP) under the deal, with the pair set to form a strategic partnership.

GIP will retain a 49.99% stake, having owned the UK’s sixth-busiest airport since 2012.

Vinci took over Gatwick through a similar deal in 2019, with GIP among investors retaining the remaining stake in the airport.

Chairman John Elvidge and chief executive Gordon Dewar will remain in their roles at Edinburgh, which expects to see almost 15 million passengers pass through this year.

“The leadership team [...] is wholly committed to working with our investors to improve customer service, accelerate our decarbonisation plans and strengthen Scotland’s connectivity with the world,” Dewar said.

“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,” Vinci Airports boss Nicolas Notebaert added.

Read more on Proactive Investors UK


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