An operator of UK airports has been bought by Canadian pension fund PSP, with the firm set to take over Glasgow, Aberdeen and Southampton airports in the £1.5bn deal. AviAlliance, a private airport operator which is wholly owned by the Public Sector Pension Investment Board (PSP Investments) , announced the takeover of AGS Airports today.
The acquisition of the company is from Spanish construction firm Ferrovial and the Australian investment bank Macquarie Asset Management for an enterprise value of £1.53bn. The transaction, a major UK aviation investment, is subject to regulatory approvals and is expected to complete in the first quarter of 2025, AviAlliance said.
Across its portfolio of managing stakes in airports in Athens, Düsseldorf, Hamburg and Puerto Rico, AviAlliance served some 73m passengers in 2023, up by 20 per cent on the past year. Gerhard Schroeder, managing director of AviAlliance, said the sites offered “vital connectivity for communities in Scotland and the southeast of England”. He added: “As a seasoned airport investor and manager with in-depth industry expertise, AviAlliance will enable each airport to realise their full potential.
“We are committed to supporting the airports over the long term to expand their route networks, further improve the passenger experience and implement the airports’ sustainability strategy.” Sandiren Curthan, managing director and global head of infrastructure at PSP, said the fund was a “significant investor�.
