Ferrovial and a Macquarie fund complete the acquisition of Glasgow, Aberdeen and Southampton airports

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Ferrovial and a Macquarie fund complete the acquisition of Glasgow, Aberdeen and Southampton airports

Ferrovial's subsidiary Ferrovial Airports, in a 50:50 consortium with Macquarie European Infrastructure Fund 4 (MEIF4), has completed the acquisition of the UK Aberdeen, Glasgow and Southampton airports from Heathrow Airport.

The operation, which was announced in October, was approved by the European authorities on 19 November.

The transaction has an enterprise value of GBP1,048 million (US$1,637 million).

The three airports will be managed locally to meet the needs of their communities, with the added advantage of being supported by Ferrovial and Macquarie's experience.

Sir Peter Mason, chairman of Thames Water and former CEO of AMEC plc, has been appointed Chairman of the group of airports.

Amanda McMillan, currently Managing Director of Glasgow Airport, will also act as CEO of AGS group, the company that will own the three airports.

The three airports collectively handled about 13 million passengers a year, from Heathrow Airport Holdings (HAH).

- Southampton Airport is located 6.5 km north north-east of Southampton, in the Borough of Eastleigh within Hampshire, England. The airport handled 1,722,758 passengers during 2013, a 1.7% increase compared with 2012, making it the 18th busiest airport in the UK. The airport has a total of 15 airlines and operators and up to 40 routes.

- Glasgow Abbotsinch Airport, is an international airport in Scotland, located 11 km west of Glasgow city centre. In 2013 the airport handled nearly 7.4 million passengers, a 2.9% annual increase, making it the second busiest in Scotland, after Edinburgh Airport, and the eighth busiest airport in the United Kingdom. The airport has a total of 30 airlines and operators and up to 100 routes.

- Aberdeen International Airport is located at Dyce, a suburb of Aberdeen, Scotland, approximately 9.3 km northwest of Aberdeen city centre. A total of 3.44 million passengers used the airport in 2013, an increase of 3.3% compared with 2012 and a record annual total for the airport. The airport has a total of 21 airlines and operators and a total of 48 routes.

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