Global Infrastructure Partners Agrees to Acquire Edinburgh Airport

GIP will pay cash consideration of £807.2m to BAA, with completion expected by the end of May.

Adebayo Ogunlesi, Chairman and Managing Partner of GIP commented: "Edinburgh Airport is a high quality infrastructure asset. Its acquisition is a landmark deal for GIP and represents the first investment by GIP II. We see significant opportunity to apply our tested and successful operational expertise and our knowledge of the global airports sector to develop and enhance the performance of Edinburgh Airport in years to come."

Michael McGhee, the GIP Partner leading the acquisition, further commented: "We plan to work closely with the airlines to improve customer service and quality in a similar fashion to the strategy we are successfully executing at our existing UK airports London Gatwick and London City. We expect to continue to develop Edinburgh Airport into an attractive and efficient capital city gateway by improving the experience of our passengers, business and leisure alike."

GIP's financial adviser in this transaction was RBS. Slaughter and May were GIP's legal advisers.