Vinci Airports today signed an agreement to acquire from current shareholders an effective 50.01% stake in Gatwick Airport Limited.
The transaction is expected to complete in the first half of 2019. The other 49.99% will be managed by Global Infrastructure Partners.
In the year ended 31 March 2018, Gatwick Airport Group reported total revenue of GBP 764.2 million, with EBITDA of GBP 411.2 million. After the closing, Vinci Airports will be able to fully consolidate the Gatwick Airport. The consideration payable for the 50.01% stake is approximately GBP2.9 billion, subject to closing adjustments.
The transaction represents a rare opportunity to acquire an airport of such size and quality and fits extremely well with Vinci Concessions’ long-term investment horizon. Gatwick Airport is an outstanding asset with further growth potential. This acquisition represents a major strategic move by Vinci Airports into a strongly performing airport located in a globally significant aviation market. Gatwick will become the largest single airport in Vinci Airports’ growing worldwide network.
— Vinci Airports