Vinci, a subsidiary of Vinci Concessions is set to take a 50.01% stake in Edinburgh Airport (EDI/EGPH) from current owners Global Infrastructure Partners (GIP) who will retain the minority share.
GIP has owned Edinburgh Airport since 2012 and the new deal with Vinci will be its second partnership with the company since it partnered to run London Gatwick in 2019.
Vinci was advised on the deal, worth £1.27 billion, by Paul Austin (Europe) LLP and the agreement is subject to possible adjustments prior to its completion in Summer 2024.
Gordon Dewar, chief executive officer of Edinburgh Airport, said: “We welcome and look forward to working with VINCI Airports and Global Infrastructure Partners, two of the world’s most respected airport investors and operators.
“The leadership team – which remains in place – is wholly committed to working with our investors to improve customer service, accelerate our decarbonisation plans and strengthen Scotland’s connectivity with the world, which ultimately drives the country’s international competitiveness and prosperity.
“I should thank the whole team at Edinburgh Airport for the contribution they have made to our success over the last 12 years since GIP acquired the airport and look forward to working with them to write a new, exciting chapter in the airport’s story.”
Nicolas Notebaert, Chief Executive Officer of VINCI Concessions and President of VINCI Airports, added: “We are delighted to announce the expansion of our successful and strategic partnership with GIP to include Edinburgh Airport.
“Together with GIP, VINCI Airports will continue the strategy of growing connectivity and developing commercial activities, whilst also leveraging VINCI Airport’s international expertise to accelerate decarbonization and continually improving customer experience.
“This acquisition of a third freehold airport in the UK, in addition to London Gatwick and Belfast International, demonstrates VINCI Airports’ long term strategic ambition and continued commitment to the country.”
Vinci is the world’s leading private airport operator managing 65 airports in 7 counties across the globe and has overseen growth at all its airports.
As well as its partnership with GIP at London Gatwick, Vinci also wholly owns Belfast International Airport (BFS/EGAA).