Milbank LLP is advising Macquarie Asset Management (Macquarie), via Macquarie European Infrastructure Fund 7 on behalf of long-term institutional investors including pension funds and insurance companies, on their acquisition of ownership stakes in Bristol, Birmingham and London City Airports.
The acquisition from Ontario Teachers’ Pension Plan will see Macquarie acquire a:
- 55 percent stake in Bristol Airport: The largest airport in South West England, it has historically been one of the fastest-growing regional airports in the UK. The airport serves approximately 10 million passengers each year and operates routes to 115 destinations, contributing approximately £2 billion to the regional economy per annum.
- 26.5 percent stake in Birmingham Airport: The UK’s 7th largest airport, it handles approximately 13 million passengers a year. Situated in the heart of the country’s Midlands, the airport is accessible to over half of the population of England and Wales within a two-hour rail or road journey, and is home to approximately 30 carriers, serving over 140 direct international routes and supporting an estimated 30,000 jobs in the region.
- 25 percent stake in London City Airport: London’s most central airport, providing excellent transportation links to the city’s two financial districts, the City of London and Canary Wharf. London City Airport handles over 3.5 million passengers per year and serves over 30 leisure and business destinations across the UK and Europe, employing more than 2,000 staff on site.
The Milbank team is led by partners Tim Sheddick and Tom Pound, with support from partners Katie Hicks and Jonathan Toffolo.
