Ferrovial reaches financial close on acquisition of stake in New Terminal One
Ferrovial has announced the financial close of its investment as an equity sponsor in the concessionaire of the New Terminal One (NTO) of the John F. Kennedy Airport in New York, USA.
NTO is an international terminal under development at the JFK that reaches 2.5 million sq ft in size. The terminal is planned by the Port Authority of New York and New Jersey (PANYNJ), which has agreed conditions precedent for the effectiveness of the lease with Ferrovial, expected to run until 2060. Ferrovial will assist NTO in the management and oversight of Phase A of the construction, which is expected to be finished in 2026, including any subsequent expansion phases. Construction is expected to begin in June 2022.
Ferrovial acquired 96% of The Carlyle Global Infrastructure Opportunities Fund’s 51% stake in the concessionaire of the New Terminal One, becoming the consortium’s lead sponsor. Ferrovial joins NTO’s partners JLC Infrastructure and Ullico in the development and operation the terminal at JFK. The Carlyle Global Infrastructure Opportunities Fund retains a 2% stake in NTO.
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Ferrovial reached agreement to acquire New Terminal One consortium
Ferrovial has reached an agreement to acquire a 96% stake in the New Terminal One consortium from Carlyle Global Infrastructure Fund. The transaction is valued at US$1.14 billion. Carlyle Global...
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