Linklaters has advised longstanding client PSP Investments, one of Canada’s largest pension investors, on the sale of a minority stake in AGS Airports to Blackstone Infrastructure for £235 million.
AviAlliance, one of the world’s leading airport investors and operators and a wholly-owned subsidiary of PSP Investments, will remain the majority shareholder in AGS with a 78% stake.
AGS handles over eleven million passengers annually and is the owner and operator of three critical UK airports: Glasgow and Aberdeen in Scotland and Southampton in England. Blackstone’s investment in AGS, together with AviAlliance and PSP Investments, is intended to support the continued growth of the travel and tourism industries across the United Kingdom.
This transaction builds on Linklaters’ recent work in the airport infrastructure sector, having recently advised on the IPO of Athens International Airport and on the sale of Budapest Airport.
The cross-practice Linklaters team was led by Financial Sponsors Partners David Martin and Genna Marten, with support from Funds Partner Clare Baker. They were further supported by Financial Sponsors Managing Associate Thomas Scott and Tax Managing Associate Jack Harrison.