London City Airport Sale Confirmed
London, February 26, 2016: Alberta Investment Management Corporation, on behalf of its clients (“AIMCo”), OMERS, Ontario Teachers; Pension Plan (“OTPP”) and Wren House Infrastructure Management Limited (“Wren House”), the infrastructure investing arm of the Kuwait Investment Authority, (each a “Consortium Member” and collectively the “Consortium”), is pleased to announce that it has signed an agreement to acquire the company that owns and operates London City Airport.
The Consortium consists of international infrastructure investors, all with proven track records, which will bring significant financial and operational expertise to London City Airport. Financial details of the transaction have not been disclosed.
London City Airport, which is located in the Royal Docks, in the London Borough of Newham, is a highly attractive infrastructure investment in the UK. The airport represents a unique opportunity to invest in an integral part of the London airport system and offers a service proposition based around location, convenience, speed and customer service. London City Airport is located in close proximity to Canary Wharf, the City of London and the West End, and is easily connected through the Docklands Light Railway service to the airport, as well as road links
Since the acquisition of its controlling stake by Global Infrastructure Partners in 2006, London City Airport has successfully grown passenger numbers from 2 million in 2005 to 4.3million in2015, with an18.3% increase in the last year alone.
Source: London City Airport