VINCI : VINCI Airports to acquire the majority shareholding in London Gatwick Airport
27 Dicembre 2018 - 07:00AM
Rueil Malmaison, 27th December
2018
VINCI Airports to
acquire the majority shareholding in London Gatwick Airport
- Signature of an
agreement to acquire a 50.01% shareholding in London Gatwick
Airport ("LGW")
- Strategic move
into the London airport system, the world's largest metropolitan
aviation market
- Second largest
airport in the UK and eighth busiest in Europe, with a total
traffic of 45.7 million[1] in
2018
- VINCI Airports
expands its network to 46 airports in 12 countries, welcoming more
than 228 million passengers (2018 figures)
VINCI Airports, a VINCI
Concessions subsidiary, today signed an agreement to acquire from
current shareholders an effective 50.01% stake in Gatwick Airport
Limited, a freehold property airport. The transaction is expected
to complete in the first half of 2019. The other 49.99% will be
managed by Global Infrastructure Partners.
VINCI Airports is pleased to
partner with Global Infrastructure Partners and to benefit from its
deep experience and expertise with the airport since 2009.
In the year ended 31 March 2018,
Gatwick Airport Group reported total revenue of GBP 764.2 million,
with EBITDA of GBP 411.2 million. After the closing, VINCI
Airports will be able to fully consolidate the Gatwick
Airport. The consideration payable for the 50.01% stake is
approximately GBP2.9 billion, subject to closing adjustments.
The transaction represents a rare
opportunity to acquire an airport of such size and quality and fits
extremely well with VINCI Concessions' long-term investment
horizon. Gatwick Airport is an outstanding asset with further
growth potential. This acquisition represents a major strategic
move by VINCI Airports into a strongly performing airport located
in a globally significant aviation market. Gatwick will become the
largest single airport in VINCI Airports' growing worldwide
network.
Key strategic highlights
include:
LGW is strategically located to the south of London
as its second largest airport, handles over 46
million passengers per annum and serves 228 destinations in 74
countries. It has strong relationships with some leading
airlines including EasyJet and British Airways, whilst building new
relationships with carriers such as China Eastern.
-
Most efficient airport in the
world: LGW operates the
busiest single runway in the world. In 2017, it hit a world record
of 950 flights in a day. The airport constantly innovates in all
areas of operations (for example passenger self-baggage drop,
aircraft queuing systems, parking products) and reaches very high
level of operational efficiency (for example high rates of
passenger security screening)
-
Opportunity for further
capacity development: LGW has a draft master
plan to accommodate growing demand for air traffic through best use
of its existing runway, an innovative potential scheme to further
utilise its standby runway.
-
Freehold ownership
structure: LGW is a
freehold airport and such a perpetual property duration regime is
extremely valuable for VINCI Airports as a long term strategic
investor and operator
-
Commercial
opportunities: further
opportunities exist to grow the commercial offering to
passengers
Gatwick Airport has an impressive
and highly experienced management team who will continue to manage
the business and whom VINCI Airports is delighted to welcome to its
global network.
Nicolas Notebaert, Chief Executive
Officer of VINCI Concessions and President of VINCI Airports:
"Creating synergies and sharing best practices
being at the core of our values, the whole VINCI Airports network
will benefit from Gatwick Airport's world-class management and
operational excellence, which has allowed it to deliver strong and
steady growth in a very constrained environment. As Gatwick's new
industrial partner, VINCI Airports will support and encourage
growth of traffic, operational efficiency and leverage its
international expertise in the development of commercial activities
to further improve passenger satisfaction and experience."
The Group will comment this
strategic transaction today (Thursday 27 December 2018) at 12.00
Paris time, in a conference call dedicated to financial analysts
and investors (See connection details on the following page and
presentation available on our website: Investors/
Financial information/Presentations).
Conference call: Thursday 27 December 2018 at 12.00 Paris
time.
To take part, please dial one of the following numbers
In French: +33 (0)1 72 72 74 03 - PIN: 83940919#
In English: +44 (0)20 7194 3759 - PIN: 83940919#
Playback number (available within two hours):
In French: +33 (0)1 70 71 01 60 - PIN: 418818076#
In English: +44 (0)20 3364 5147 - PIN: 418818076#
PRESS CONTACT
VINCI Press Department
Tel.: +33 (0)1 47 16 31 82
media.relations@vinci.com
INVESTOR RELATIONS
Grégoire Thibault
Tel: +33 (0)1 47 16 45 07
gregoire.thibault@vinci.com
Alexandra Bournazel
Tel: +33 (0)1 47 16 33 46
alexandra.bournazel@vinci.com
About VINCI
Airports
VINCI Airports, a top 5 global
player in the international airport sector, manages the development
and operations of 45 airports located in France, Portugal
(including the hub of Lisbon), United-Kingdom, Sweden, Serbia,
Cambodia, Japan, United States of America, Dominican Republic,
Costa Rica, Chile and Brazil. Served by more than 250 airlines,
VINCI Airports' network handled over 180 million passengers in
2017.
Through its expertise as a comprehensive integrator, VINCI Airports
develops, finances, builds and operates airports, leveraging its
investment capability, international network and know-how to
optimize the management and performance of existing airport
infrastructure, facility extensions and new construction. In
2017, its annual revenue for managed activities amounted to €3.2
bn, for a consolidated revenue of €1.4 bn. More comprehensive
information is available on www.vinci-airports.com
About
VINCI
VINCI is a global player in
concessions and construction, employing more than 190,000 people in
some 100 countries. We design, finance, build and operate
infrastructure and facilities that help improve daily life and
mobility for all. Because we believe in all-round performance,
above and beyond economic and financial results, we are committed
to operating in an environmentally and socially responsible manner.
And because our projects are in the public interest, we consider
that reaching out to all our stakeholders and engaging in dialogue
with them is essential in the conduct of our business activities.
VINCI's goal is to create long-term value in this way for its
clients, shareholders, employees and partners, and for society as a
whole. www.vinci.com
[1] Source:
Gatwick Airport Limited, for the year ended 31 March 2018
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information contained therein.
Source: VINCI via Globenewswire
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