UK airport operator Heathrow Airport Holdings Ltd, erstwhile BAA Airports Ltd, said it had wrapped up the GBP1.5bn (USD2.3bn/EUR1.7bn) sale of Stansted Airport Ltd to peer Manchester Airports Group Plc, or MAG.
MAG secured a GBP1.2bn club loan from 13 banks to help bankroll the cash transaction, Reuters reported in January, citing bankers. MAG unveiled its agreement for Stansted’s buy on 18 January.
Under the terms of the deal, Australian infrastructure investment group Industry Funds Management Pty Ltd (IFM) would buy a 35.5% in the enlarged group in exchange for an undisclosed investment.
Stansted handles some 17.5m passengers and 131,400 flights annually.