PSP Investments Acquires £1.53B Macquarie, Ferrovial UK Airport JV Assets

AviAlliance, the private airport investor owner and operator owned by Canadian pension investment manager Public Sector Pension Investment Board (PSP Investments), said it has agreed to acquire three airports in the UK in a transaction with an enterprise value of £1.53B.

Macquarie Asset Management, through its European Infrastructure Fund 4, co-owned the Aberdeen, Glasgow and Southampton airports with Spanish infrastructure operator Ferrovial. Macquarie and Ferrovial held the airports through the equally owned AGS Airports joint venture that was established following a £1.05 billion transaction with Heathrow Airport in 2015.

Financial terms and conditions of the deal were not disclosed, but Macquarie said it expects the deal to close by the first quarter of 2025, subject to customary conditions, including regulatory approvals.

Sources:

• https://www.investpsp.com/en/news/avialliance-to-acquire-ags-airports/
• https://www.macquarie.com/au/en/about/news/2024/macquarie-and-ferrovial-announce-sale-of-ags-airports.html

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