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UK: Heathrow Airport unloads $1.6B in assets

By  |  September 22, 2014

Heathrow Airport Holdings is planning to divest airports worth a total of $1.63 billion, according to reports.

The company is set to sell its stakes in Glasgow, Aberdeen and Southampton airports. Heathrow’s largest shareholder, Ferrovial, and Australia-based infrastructure firm Macquarie are slated to make a joint offer for the three locations.

Reports say Heathrow is looking to offload the locations to fund the expansion of its main airport as it looks to earn approval to build a third runway. But the sales are also part of Heathrow’s fulfillment of a 2008 Competition Commission order, which required the company to sell seven airports including Gatwick and Edinburgh.

Heathrow has not confirmed the latest sales, but reports say it is slated to officially announce the transaction in the coming weeks.

Full content: Travel Weekly

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