British Airports Authority or BAA Ltd. (BAAPY.PK) reported agreeing to sell its 100% interest in Edinburgh Airport Ltd. to GIP for 807.2 million pounds, which is payable in full at closing. The sale may close by the end of May.
Edinburgh Airport handled 9.3 million passengers in 2011 and generated 48.3 million pounds of EBITDA for the same period. Following the Edinburgh Airport sale, BAA would own Heathrow, Stansted, Glasgow, Aberdeen and Southampton airports.
BAA's advisors on the transaction included BNP Paribas, Citigroup, McGrigors, Ernst & Young, Leigh Fisher, Waterman and Marsh.
For comments and feedback: editorial@rttnews.com