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Vancouver Airport Services announced today that it has reached agreement with The Peel Group to acquire a 65 per cent share in Peel Airports Limited which includes key airport assets of Liverpool John Lennon Airport, Robin Hood Airport Doncaster Sheffield and Durham Tees Valley Airport.
The Peel Group will retain a 35 per cent investment in Peel Airports Limited and a presence on the board and looks forward to the opportunities the strategic partnership with Vancouver Airport Services will generate.
George Casey, President and CEO of Vancouver Airport Services said, “Vancouver Airport Services has a strong track record of investing in and providing value-added management services for airports around the world,”
“We look forward to working with The Peel Group and the stakeholders involved in these airports.”
Peel Group Chairman John Whittaker added, “We are delighted to move forward and partner with Vancouver Airport Services. Its network of international airports and expertise as a leading airport specialist will further increase the success of these growing regional airport businesses.”
“The retention of a significant investment in the joint venture, together with our associated airport-related property, is firmly in line with our strategy of creating long term partnerships to unlock value from the synergy between our diverse infrastructure, transport and real estate assets.”
Craig Richmond, newly appointed CEO of Peel Airports Limited, further added "This investment will result in further success for the airport and the communities and region it serves. An impressive foundation has already been established and together we can now move forward. I am excited to join this community and to work with everyone involved to create long-term value for the airport and the North West."
Notes for editors
About Vancouver Airport Services
Vancouver Airport Services is a leading global airport investment, management and development company. It is jointly owned by Vancouver Airport Authority and Citi Infrastructure Investors. With this investment, Vancouver Airport Services operates and/or invests in a global portfolio of 19 airports. In 2009 its network of airports reported revenues of more than CDN$530 million and combined passenger traffic totalling more than 28.5 million.
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