Edinburgh Airport owner eyes £2bn sale as aviation infrastructure values soar
Edinburgh Airport could be sold this year for as much as £2bn as its private equity owner looks to cash in on skyrocketing aviation infrastructure valuations.
Global Infrastructure Partners (GIP), the airport’s largest shareholder, is eyeing the hefty price tag amid plans to sell its majority stake, the Sunday Telegraph reported, citing City sources.
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GIP bought the airport from BAA in 2012 for £807m and has seen a sharp increase in its value. The move would mark GIP’s exit from its last remaining British airport.
The New York-based private equity firm last year sold its 50.01 per cent stake in Gatwick for £2.9bn to French giant Vinci, while the company also bagged £2bn from its sale of London City Airport to a consortium of buyers in 2016.
GIP, which is led by investment banker Adebayo Ogunlesi, is expected to wait for more clarity before starting a formal sale process, according to sources.
Infrastructure funds such as Brookfield, Macquarie, APG and CKI are all expected to show interest in the sale, while the Ontario Teachers’ Pension Plan, which owns Bristol and Birmingham airports, is also tipped as a potential buyer.
Last month, Edinburgh airport reported a double-digit rise in passenger numbers, breaking through the 1m mark for the first time in March.
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The airport has bagged a series of new flight routes in recent months, including an Emirates service to Dubai, while funding has been secured for a new hotel development on the site.
GIP declined to comment.