AIMCo led consortium to acquire London City Airport

AIMCo led consortium to acquire London City Airport
February 26
15:34 2016

Alberta Investment Management Corporation (AIMCo) led a consortium in the acquisition of the company that owns and operates London City Airport.

The consortium consists of OMERS, Ontario Teachers’ Pension Plan (OTPP) and Wren House Infrastructure Management Limited, the infrastructure investing arm of the Kuwait Investment Authority.

Financial details of the transaction have not been disclosed.

Since the acquisition of its controlling stake by Global Infrastructure Partners in 2006, London City Airport has successfully grown passenger numbers from 2 million in 2005 to 4.3 million in 2015, with an 18.3% increase in the last year alone.

The consortium is committed to the responsible, long-term ownership and development of London City Airport to ensure its continued strong position and reputation as a key airport for London. Working together with management and local authorities, it will support the enhancement of facilities and build on the airport’s successful track record. Over the long-term, a part of this investment will be dedicated to developing existing and new airline relationships and routes, improving the airport’s already excellent customer service, and generating opportunities for new and existing employees.

The consortium has proven experience as long-term owners and operators of UK and European airports, as evidenced by selected members’ current ownership of Belfast International Airport, Birmingham Airport, Bristol Airport, Brussels Airport and Copenhagen Airport, and historical investments in Rome Airport and Sydney Airport.

Press release.

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