Ardian, a private investment house, has agreed to sell its stake in London Luton Airport (LLA), to AMP Capital, the specialist global investment manager that focuses on real assets.
Ardian Infrastructure acquired 49 percent of LLA in 2013. Since then, Ardian together with airport operator Aena have invested in developing the airport, committing more than £160 million ($223 million) in total.
The strong performance of the airport over the last four and a half years has seen the creation of 3,000 direct and indirect jobs. Ardian’s work with LLA has involved close cooperation with its long-term industrial strategic partner, Aena, Luton Borough Council, and an extended list of airlines, suppliers and government bodies.
“London Luton Airport is a high-quality capital city airport with significant further growth potential, catering for the high-volume London market, which makes it a compelling investment opportunity,” said Boe Pahari, global head of Infrastructure Equity at AMP Capital.
Ardian has already been busy with transactions in 2018. Earlier this month, the firm signed an agreement to sell Kallista Energy Investment, a wind energy producer in which Ardian holds a 100 percent stake through its third-generation infrastructure fund, to Boralex, a firm in the Canadian renewable energy market and the first independent wind energy company in France. In March, the firm started a partnership with Transatlantic Power Holdings (TPH) to build a renewable platform, Skyline Renewables, which will be based in the United States and had its first acquisition, Whirlwind, a wind project in Texas from Renewable Energy Systems Americas Development, Inc. And in December 2017, the firm signed an agreement for the sale of a €1 billion ($1.17 billion) portfolio of assets after a competitive auction. The investors involved were APG and AXA, both existing shareholders of the portfolio since 2006. Ardian remained the asset manager and adviser of the portfolio.
Ardian has $67 billion in assets under management or advised in Europe, North America and Asia.