Edinburgh Airport will be sold for £807m to Global Infrastructure Partners (GIP) which already owns Gatwick and 75% of London City Airport. Edinburgh Airport was put up for sale by BAA in October 2011, after the UK Competition Commission ruled that it had to sell either Edinburgh or Glasgow Airport.
The sale price is significantly higher than the £500m – £700m value that some industry watchers had predicted.
Adebayo Ogunlesi, Chairman of GIP, said: “Edinburgh Airport is a high-quality infrastructure asset. Its acquisition is a landmark deal for GIP.
“We see significant opportunity to apply our tested and successful operational expertise and our knowledge of the global airports sector to develop and enhance the performance of Edinburgh Airport in years to come.”
Colin Matthews, CEO of BAA, said: “Edinburgh Airport and its team have been part of BAA for a long time and we are proud of its achievements.
“We wish the new owners every success and are confident the airport will continue to flourish.
“BAA will continue to focus on improving passengers’ journeys at Heathrow and its other airports.”