Copenhagen Airports has agreed to sell its 49% share of UK regional, Newcastle International Airport, to Australian fund manager, AMP Capital Investors Limited.The deal reportedly values the airport at more than €400 million.The remaining 51% is owned by seven local councils known collectively as the LA7, who approved the deal earlier this month.Copenhagen Airports (CPH) said it was selling its share to focus on the operation of its airports in the Danish capital.In a statement, CPH said: “A part of CPH’s strategy since 2007 was to focus its activities on the development and operation of the airports in Copenhagen.“This is also described in the World Class Hub strategy, presented on 1 March 2012. The divestment of Newcastle International Airport Ltd is part of the realisation of this strategy.”The sale is expected to be completed by mid-November.As part of the deal, the airport will seek new debt funding from LA7 and the purchaser.Newcastle International Airport was crowned Best UK Airport by the Airport Operators Association this week.Source: airportworld
Gravity always wins!