VINCI Airports to acquire a majority shareholding in London Gatwick airport
VINCI Airports has signed an agreement to acquire from current shareholders an effective 50.01% stake in Gatwick Airport Limited, a freehold property airport. The consideration payable for the stake is approximately GBP2.9 billion (US$3.67 billion), subject to closing adjustments.
The other 49.99% will be managed by Global Infrastructure Partners, which has invested in the airport since 2009.
The transaction is expected to complete in the first half of 2019. After the closing, VINCI Airports will be able to fully consolidate Gatwick Airport.
In the year ending 31 March 2018, Gatwick Airport Group reported total revenue of GBP764.2 million (US$966.44 million), with EBITDA of GBP411.2 million (US$520.02 million). Located 47.5km south of central London, the airport handled around 45.7 million passengers in 2018, making it the second-busiest in the UK and eighth-busiest in Europe.
Gatwick will become the largest single airport in VINCI Airports' growing worldwide network.
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