AMP Capital is acquiring Ardian鈥檚 49% stake in London Luton Airport (LLA) for an undisclosed sum.
In November 2013, a consortium made up of private investment firm Ardian and Spanish airports operator Aena SME acquired the LLA concession for 拢394.4m (鈧�451.3M) in equity value from TBI, a joint venture 90% owned by Abertis Infraestructuras, and 10% by Aena.
The LLA concession, granted by Luton Borough Council, continues until 2031.
AMP Capital said today it is buying Ardian鈥檚 stake in the UK鈥檚 fifth-largest airport on behalf of investors in its Global Infrastructure Equity strategy.
The remaining 51% of the concession is owned by Aena.
Boe Pahari, the global head of infrastructure equity at AMP Capital, said: 鈥淟ondon Luton Airport is a high-quality capital city airport with significant further growth potential, catering for the high-volume London market, which makes it a compelling investment opportunity for our investors.鈥�
AMP Capital, a specialist global investment manager with $146.8bn in funds under management, acquired Leeds Bradford Airport in November 2017 and is a long-standing investor in other airports including Newcastle Airport in the UK and Melbourne Airport in Australia.
鈥淎s experienced owners of airports, we believe we can work with Aena to further develop London Luton鈥檚 performance, through supporting investment in the infrastructure and identifying opportunities for route development, as well as improving the passenger experience and the retail offering,鈥� Pahari said.
Mathias Burghardt, a member of the executive committee of Ardian and head of infrastructure, said: 鈥淥ver the last four years, working with our partner Aena, Ardian has helped transform London Luton Airport into one of the fastest growing airports in the UK.
鈥淲e are very proud of the growth and development we have helped create at the airport, which has only been possible thanks to the hard work of the employees at LLA and the other stakeholders involved.鈥�
