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BlackRock to buy stakes in Edinburgh, Gatwick airports
Edinburgh and London Gatwick airports are about to get a new owner.
Stakes in the airports are being sold after a multi-billion pound deal to buy parent Global Infrastructure Partners.
The transaction is expected to close later this year.
GIP is being sold to BlackRock for around £9.43 billion in cash and stock.
GIP manages about £78.6 billion in assets, much of it in infrastructure businesses.
Also among its portfolio is Sydney Airport and Peel Ports.
“We believe bringing GIP and BlackRock together will deliver to clients the benefits of broader origination and business improvement capabilities,” a spokesperson for GIP said.
Bayo Ogunlesi, GIP Founding Partner and CEO will join the BlackRock board.
“Infrastructure is one of the most exciting long-term investment opportunities, as a number of structural shifts re-shape the global economy,” said BlackRock CEO, Laurence D. Fink.
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