Copenhagen Sells Newcastle Stake

AMP Capital, the Australian investment firm, has acquired Koebenhavns Lufthavne’s (Copenhagen Airport) 49% stake in Newcastle International Airport.  The company was selected ahead of several other bidders including 3i, the UK-listed private equity group, and French infrastructure investor Antin, and is understood to be paying around £150 million (US$240m) for the share.
The Danish operator is selling its stake as part of a move to scale back its overseas investments.  The remaining 51% is owned by the region’s local councils and is known jointly as LA7 – the group has recently agreed a £218.5 million (US$350m) refinancing to reduce the facility’s debt and is expected to make a further investment totalling £68 million (US$109m).