Vinci Airports completes majority shareholding acquisition of London Gatwick

Darren Wood
By Darren Wood May 15, 2019 14:00

Vinci Airports completes majority shareholding acquisition of London Gatwick

Vinci Airports has completed the acquisition of a majority shareholding, standing at 50.01%, in London Gatwick airport.

London Gatwick airport is an asset with substantial growth potential and the transaction fits perfectly into the Vinci concessions long-term investment strategy, the company says.

In a statement, Vinci Airports said: “With this transaction, Vinci Airports becomes the world’s second-largest airport operator with over 240 million passengers a year including 46 million at London Gatwick.”

Vinci was quick to stress that London Gatwick’s 3,200 employees will now have access to broader professional opportunities.

Nicolas Notebaert, CEO of Vinci concessions and president of Vinci Airports, said: “London Gatwick’s integration into the Vinci Airports network is an excellent outcome for both organisations. Our synergies will lead to further tangible benefits for employees, passengers and airlines. The consolidation of a world-wide, industrial leader is also a positive step for the future of air transport. As a leader, VINCI Airports will help the sector to improve through its resilient, sustainable, innovative and customer-friendly airport network.”

The remaining 49.99% will be retained by Global Infrastructure Partners (GIP), as part of the deal David Higgins, Stewart Wingate and Nick Dunn will remain as chairman, CEO and CFO of the airport.

They will be joined by Cédric Laurier, from Vinci Airports, as chief technical officer.

In the first quarter of 2019, London Gatwick recorded 4% growth in passenger numbers.

Darren Wood
By Darren Wood May 15, 2019 14:00