HAH To Sell Three Airports For $1.6bn

Heathrow Airport Holdings (HAH) has agreed a deal to sell its 100% interest in Aberdeen, Glasgow and Southampton airports for £1bn ($1.6bn).

Heathrow Airport Holdings (HAH) has agreed a deal to sell its 100% interest in Aberdeen, Glasgow and Southampton airports for £1bn ($1.6bn).

The buyer is a consortium formed by Spanish infrastructure company Ferrovial, which holds a 25% stake in HAH, and Australia’s Macquarie Infrastructure Fund.

The consortium will take control of the three airports by no later than January 2015, subject to approval from the European Union.

The deal means HAH will now operate only Heathrow Airport after the UK Competition Commission ordered the breakup of its ownership of seven UK airports, which also included Gatwick, Edinburgh and Stansted.

TAGS: Europe
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