Peel to sell majority stake in UK airports
07.03.10
Peel Group, the UK infrastructure investor, is in talks to sell a majority stake in its airports division that would help finance an £800m bid, announced on Friday, for Forth Ports, one of Britain's biggest port operators, the Mail reports. The private business controlled by John Whittaker is said to be in discussions with Canada's Vancouver Airport Services (VAS) to sell Peel Airports. These comprise Liverpool, Robin Hood, Durham Tees Valley and City Airport Manchester.
A sale of the division may raise as much as £200m, and Peel was reported to be in discussions with the Canadian firm last month over a minority investment in its airports arm. A Peel spokesman declined to comment on talks, but confirmed the company would like to sell part of its loss-making airport arm. VAS operates 18 airports around the globe, handling 30m passengers each year. The firm, which also refused to comment on the discussions, specialises in turning round failing airports.
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