Slaughter and May advises Global Infrastructure Partners - agreed sale of London City Airport
Slaughter and May is advising Global Infrastructure Partners (GIP), a leading independent infrastructure investor, on the agreed sale of its 75% interest in London City Airport to a consortium comprised of AIMCo, OMERS, Ontario Teachers’ Pension Plan and Wren House Infrastructure Management Limited, the infrastructure investing arm of the Kuwait Investment Authority. Highstar Capital has also agreed to sell its 25% interest in London City Airport as part of the transaction, which is not subject to any regulatory approvals and is expected to close on 10 March 2016.
London City Airport is London’s fastest growing airport, currently serving 12 airlines and 46 destinations across the UK, Europe and the USA. It also operates an executive jet centre and its location, which is close to Canary Wharf and the City of London, makes London City Airport particularly convenient for business travellers. GIP acquired its 75% interest in London City Airport through two successive transactions in 2006 and 2008. Since its initial investment in London City Airport, GIP has implemented a program of investment and operational improvements aimed at increasing capacity, improving the facility’s operating efficiency and service quality, developing airline relationships and strengthening and expanding the airport’s network.