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Freshfields advises VINCI Airports on its proposed acquisition of a majority stake in London Gatwick Airport
Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised VINCI Airports, a VINCI Concessions subsidiary, which today signed an agreement to acquire from current shareholders an effective 50.01 per cent stake in Gatwick Airport Limited, a freehold property airport. The transaction is expected to complete in the first half of 2019. The other 49.99 per cent will be managed by Global Infrastructure Partners. The consideration payable for the 50.01 per cent stake is approximately £2.9bn, subject to closing adjustments.
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, a top five global player in the international airport sector, manages the development and operations of 45 airports located in France, Portugal (including the hub of Lisbon), the United Kingdom, Sweden, Serbia, Cambodia, Japan, the United States of America, the Dominican Republic, Costa Rica, Chile and Brazil. Served by more than 250 airlines, VINCI Airports’ network handled over 180 million passengers in 2017.
Freshfields advised VINCI Airports on the tax and structuring aspects of the transaction. The cross-border team was led by partners Vincent Daniel-Mayeur and Jill Gatehouse. Freshfields previously advised VINCI Airports on the acquisition of an airport portfolio, including Belfast International Airport, in August 2018.
ENDS
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