Milbank, Tweed, Hadley & McCloy LLP has advised global private markets investment manager Partners Group in the acquisition, along with its partners in the Nieuport Aviation consortium, of the passenger terminal at Billy Bishop Toronto City Airport (BBTCA) on behalf of its clients.
The Nieuport Aviation consortium includes Partners Group, InstarAGF Asset Management, Kilmer Van Nostrand, and institutional investors advised by JP Morgan Asset Management. Nieuport Aviation has purchased the BBTCA terminal from Porter Aviation Holdings Inc. (PAHI), which has sold the asset in order to focus on its core airline business.
BBTCA is the ninth busiest airport in Canada, serving 2.4 million passengers in 2014. The terminal is a state-of-the-art facility, newly constructed by PAHI subsidiary City Centre Terminal Corp. in 2010. It is accessible to about 6.6 million residents within a one-hour drive. In 2013, Billy Bishop Airport was recognized by Skytrax as one of the world’s best small airports.
Milbank Corporate partner John Franchini led the Milbank team representing Zug, Switzerland-based Partners Group, along with Corporate partner Roland Hlawaty, Leveraged Finance partner Jerome McCluskey and Corporate associates Broderick Henry and Molly O’Connor.
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Milbank, Tweed, Hadley & McCloy LLP is a leading international law firm providing innovative legal solutions to clients throughout the world for more than 150 years. Milbank is headquartered in New York and has offices in Beijing, Frankfurt, Hong Kong, London, Los Angeles, Munich, São Paulo, Singapore, Tokyo and Washington, DC.
The firm’s lawyers provide a full range of legal services to the world’s leading commercial, financial and industrial enterprises, as well as to institutions, individuals and governments. Milbank’s lawyers meet the needs of its clients by offering a highly integrated and collaborative range of services across key practice groups throughout its global network. Milbank’s integrated practice is underpinned by its attorneys’ acknowledged technical excellence, sectorial experience and a strong tradition of innovation and client service.
