A 50/50 consortium of Ferrovial and Macquarie has bought Aberdeen, Glasgow and Southampton airports for more than £1bn.
The MEIF4 consortium has signed an agreement with Heathrow Airport Holdings for the airports, with the £1.05bn deal expected to complete by January 2015, and has an enterprise value of GBP1,048 million.
Iñigo Meirás, chief executive of Ferrovial said: “The transaction proves how valuable these assets are for Ferrovial. We are committed to improve these facilities and their services looking to a better passenger experience and in order to grant access to further domestic and international destinations.”
Sir Peter Mason, chairman of Thames Water and former CEO of AMEC will be appointed as Chair of the group on completion.
John Holland-Kaye, chief executive of Heathrow, said the sale would enables it to “focus on improving Heathrow for passengers and winning support for Heathrow expansion”.
The airports will continue to operate under the ownership of Heathrow Airport Holdings Limited until the transaction completes.