Macquarie Asset Management, through its Macquarie European Infrastructure Fund 4, and Ferrovial have agreed to sell AGS Airports to AviAlliance in a transaction worth £1.53 billion ($2 billion).
The transaction is expected to reach financial close by first quarter 2025.
AGS Airports was established as a 50-50 joint venture between Macquarie and Ferrovial following their 2014 acquisition of the airport portfolio from Heathrow Airport Holdings. AGS Airports owns and operates the primary airports serving Aberdeen, Glasgow and Southampton.
A partnership approach with Ferrovial has enabled AGS Airports to invest £250 million ($318 million) to deliver vital improvements, including a £20 million ($25 million) investment in Aberdeen International Airport — the largest investment in the airport’s capacity since its main terminal was opened in 1977, a £9 million ($11 million) investment to revamp infrastructure at Glasgow Airport, and a £17 million ($22 million)
