AMP Capital takes UK airport stake
AMP Capital's European flagship fund has taken up a major stake in a key infrastructure asset in the United Kingdom - Newcastle International Airport.
The company announced this week that its Strategic Infrastructure Trust of Europe (SITE) had acquired a 49 per cent interest in NIAL Group Limited, the holding company for Newcastle International Airport.
It said the stake had been acquired from Copenhagen Airports, and that the remaining 51 per cent stake would be retained by seven UK local authorities.
Commenting on the transaction, AMP Capital managing director Europe Boe Pahari said Newcastle Airport was the major airport serving the north-east of England and the Newcastle area.
"It is a high quality asset with excellent facilities used by more than 4.4 million passengers a year," he said.
"AMP Capital has long-standing experience investing in airports, with its investment in Melbourne Airport dating back to 1997," Pahari said. "We look forward to working with the LA7 and Newcastle Airport management to add value and support the long-term growth and development of the airport and the north-east UK economy."
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