VINCI Airports buys majority stake in Edinburgh Airport as part of billion-pound deal
17 April 2024, 11:01 | Updated: 17 April 2024, 18:55
A French firm has struck a deal to buy a majority stake in Edinburgh Airport for around £1.27bn.
Global Infrastructure Partners (GIP) has agreed to sell a 50.01% stake to French infrastructure group VINCI Airports.
VINCI Airports is one of the world's biggest private airport operators, with more than 70 airports in 13 countries - including London Gatwick Airport and Belfast International.
GIP, which has owned Edinburgh Airport since 2012, said it will retain the remaining 49.99% stake and form a strategic partnership with VINCI Airports to support the site's future growth.
Edinburgh Airport's chairman Sir John Elvidge and chief executive Gordon Dewar will remain in their roles following the deal.
Mr Dewar said: "The leadership team - which remains in place - is wholly committed to working with our investors to improve customer service, accelerate our decarbonisation plans and strengthen Scotland's connectivity with the world, which ultimately drives the country's international competitiveness and prosperity.
"I should thank the whole team at Edinburgh Airport for the contribution they have made to our success over the last 12 years since GIP acquired the airport and look forward to working with them to write a new, exciting chapter in the airport's story."
Edinburgh Airport is Scotland's busiest airport, connecting the country to 155 destinations across 35 airlines.
Almost 15 million people are expected to pass through its doors this year.
New York-based GIP, which was recently bought by US investment firm BlackRock, said the focus remains on improving passenger service and the long-term growth, modernisation and sustainability of the airport.
The Edinburgh deal follows a similar one in 2019 which saw VINCI Airports buy a majority 50.01% stake in London Gatwick Airport, with a group of investors led by GIP retaining the remaining holding.
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Nicolas Notebaert, chief executive of VINCI Concessions and president of VINCI Airports, said: "We are delighted to announce the expansion of our successful and strategic partnership with GIP to include Edinburgh Airport.
"Together with GIP, VINCI Airports will continue the strategy of growing connectivity and developing commercial activities, whilst also leveraging VINCI Airports' international expertise to accelerate decarbonisation and continually improving customer experience.
"This acquisition of a third freehold airport in the UK, in addition to London Gatwick and Belfast International, demonstrates VINCI Airports' long-term strategic ambition and continued commitment to the country."
(c) Sky News 2024: VINCI Airports buys majority stake in Edinburgh Airport as part of billion-pound deal
