BAA to sell Edinburgh Airport

UK based airport operator BAA on Monday announced that it has agreed to sell its 100% interest in Edinburgh Airport Limited to GIP.

Edinburgh Airport Limited is being sold for GBP807.2m, which is payable in full at closing, which is expected to happen at the end of May 2012.

Following the sale of Edinburgh Airport the airport operator will own Heathrow, Stansted, Glasgow, Aberdeen and Southampton airports.

Advisors to BAA on the transaction included BNP Paribas, Citigroup, McGrigors, Ernst & Young, Leigh Fisher, Waterman and Marsh.

The company said that following the sale “BAA will continue to focus on improving passengers’ journeys at Heathrow and its other airports.”