BAA costretta a vendere Stansted ed un aeroporto scozzese.

[sevs17]

Gli Inglesi sono molto liberali. Ora BAA dovra' cedere Stansted e scegliere se tenere Edimburgo o Glasgow. Faranno ricorso pero' non so se vinceranno.


BAA SELL-OFF BACK ON TRACK AFTER COURT RULING.


BAA has been keen to keep control of Stansted Airport operator BAA again faces having to sell Stansted and either Glasgow or Edinburgh after losing a Court of Appeal ruling.


The Competition Commission ruled in March last year that the airports, along with Gatwick, must be sold, but BAA successfully appealed.

But now the finding that there was "apparent bias" in the commission' s ruling has been overturned.


That means the forced sale of the airports is now back on track.

BAA has already sold Gatwick for £1.5bn to US-based investment fund, Global Infrastructure Partners.


http://www.bbc.co.uk/news/business-11531559

Spanish-owned BAA operates Heathrow, Southampton and Aberdeen, as well as Stansted, Glasgow and Edinburgh.

It had successfully appealed against the compulsory sales to the Competition Appeal Tribunal in March - arguing that one of the competition commission inquiry panel had a connection with the owners of Manchester airport, who had shown an interest in buying Gatwick.

But Lord Justice Maurice Kay, Lord Justice Jacob and Lord Justice Patten found that the tribunal was wrong to find "apparent bias" and restored the commission's original decision.

BAA said it was disappointed with the decision and would seek permission to appeal to the Supreme Court.

 

[SkySurfer]

Ryanair accoglie la notizia con entusiasmo :
http://www.ryanair.com/en/news/ryanair-welcomes-court-of-appeal-ruling

 

[malpensante]

Spanish-owned BAA operates Heathrow, Southampton and Aberdeen, as well as Stansted, Glasgow and Edinburgh.

Finché la proprietà era British nessuno fiatava se BAA aveva anche Gatwick

 

[DavidFLR]

quindi ogni APT dell'area Londra avra' una societa' diversa?

 

[sevs17]

quindi ogni APT dell'area Londra avra' una societa' diversa?

Si ora faranno ricorso, ma se non dovesse passare si. Anche se in realta' London City Airport e London Gatwick Airport sono della stessa societa' ma al momento il marchio é diviso. Sono entrambi della Global Infrastructure Partners.

 

[sevs17]

Quanto vengono che ci faccio un pensiero?

A parte gli scherzi chi di questi tempi può essere interessato ad acquisizioni del genere?

L'aeroporto di Gatwick ha avuto tante offerte, quindi la vendita non sarà un problema. a Gatwick era interessata anche Virgin Atlantic, mai dire mai che Ryanair entri in qualche consorzio (é da anni che inisiste nel liberalizzare i terminal aeroportuali all'interno di uno stesso scalo mettendoli in concorrenza fra loro).

 

[FlyIce]

Finché la proprietà era British nessuno fiatava se BAA aveva anche Gatwick

Non è vero, l'inchiesta dell'antitrust era inziata prima della cessione.

 

[airblue]

Non è vero, l'inchiesta dell'antitrust era inziata prima della cessione.

allora Ferrovial è stata un pò stolta ad avventurarsi nell'acquisto di BAA....

 

[AZ209]

Riesumo questo thread perche' e' notizia di oggi che BAA ha venduto l'aeroporto di Edimburgo alla GIP, gli stessi a cui aveva gia' venduto LGW e gia' proprietari anche di LCY:

Edinburgh airport sold for about £800m

A deal has been struck to sell Edinburgh airport to the owner of Gatwick and London City airports for about £800m.
Global Infrastructure Partnership (GIP) has beaten off competition from a consortium led by another infrastructure investor, J.P. Morgan Asset Management.
The operator BAA was ordered to sell either Edinburgh or Glasgow airports.
A full announcement is expected later.
Edinburgh Airport was put on the market by its owner BAA last October, after the Competition Commission ruled that it had to sell either Edinburgh or Glasgow.
The winning price, which is understood to be close to £800m, is considerably more than had been expected.
Three years ago, Spanish-owned BAA sold Gatwick Airport to GIP, under the same regulatory requirement to break up assets that had previously been state-owned.
It is thought that GIP intends to improve the speed at which passengers move through the airport at check-in, security and baggage handling, and to link the Scottish capital with new routes.
Its investment pattern is to sell the asset on after about seven years.

http://www.bbc.co.uk/news/uk-scotland-scotland-business-17814024

 

[Doctorstein]

Facendo i paragoni con MXP direi che hanno fatto un ottimo affare.

 

[AZ209]

BAA non si opporra' piu' alla vendita di STN

BAA agrees to sell off Stansted airport

BAA has finally surrendered to the Competition Commission over Stansted, ending a three-year legal battle to keep hold of the Essex airport.


The airports operator said on Monday it would not mount a final appeal to the Supreme Court, after the Court of Appeal last month upheld a competition ruling dating back to 2009, dictating that Stansted must be sold.

A spokesman for BAA said the operator still fundamentally disagreed with the Commission’s position on Stansted, given that it serves a different market from its other London airport, Heathrow. However, BAA had been advised that it would not have the legal grounds for a further appeal, the spokesman said.

The group said in a statement: “Having carefully considered the Court of Appeal’s recent ruling, BAA has decided not to appeal to the Supreme Court and is now proceeding with the sale of Stansted airport. We still believe that the Competition Commission ruling fails to recognise that Stansted and Heathrow serve different markets.”

BAA chief executive, Colin Matthews, had been hoping to delay the sale for as long as possible so that he would not be forced to offload Stansted in the current depressed market.

The airport, which is heavily reliant upon leisure travellers, has been hit hard by the double dip recession and has been shedding passengers since 2007.

Manchester Airports Group and South Korea’s state-owned Incheon airport group have been touted as possible buyers for Stansted, which has been valued at about £1bn.
Low cost airline Ryanair has also held talks with several parties about putting together a consortium to bid for the airport.

Last month Ryanair’s chief financial officer, Howard Millar, said the carrier was interest in taking a 25pc stake in Stansted.

BAA said it is not working to a particular timetable for the sale but the operator sold Edinburgh airport six months after being told it had to dispose of the asset by competition authorities.
Last week it emerged that a Qatari government investment fund had bought a 20pc stake in BAA for £900m.

Spain's Ferrovial remains the largest shareholder in BAA with 39.4pc.

http://www.telegraph.co.uk/finance/.../BAA-agrees-to-sell-off-Stansted-airport.html

 

[kenyaprince]

Ryanair pronta ad acquistare l'aeroporto di Stansted

Finanzaonline.com - 21.8.12/15:50

Ryanair considera l'acquisto del 25% dell'aeroporto di Stansted in Gran Bretagna, messo in vendita da BAA. Sarebbe la prima mossa della compagnia low cost verso una politica di acquisto di sedi aeroportuali. La compagnia, già maggiore utente dell'aeroporto, sarebbe già stata in trattative con alcuni consorzi per l'acquisto dell'aeroporto di Essex. Secondo la stampa internazionale, la vendita dell'aeroporto potrebbe costare circa 1 miliardo di sterline.

 

[AZ209]

Notizia di un paio di giorni fa, l'ufficialità dell'acquisto di Stansted Airport da parte di Manchester Aiport Group (M.A.G.):

M.A.G SUCCESSFUL IN BID FOR STANSTED AIRPORT

London, 18 January, 2013
M.A.G today announces that it has been successful in its bid to acquire Stansted Airport and welcomes Industry Funds Management (IFM) as a strategic investor in M.A.G as part of the transaction.
M.A.G will pay a consideration of £1.5bn to acquire Stansted after a transparent and highly competitive process. This represents an acquisition multiple of 15.6x 2012 EBITDA which compares favourably with similar airport transactions in the UK and reflects Stansted’s significant growth potential. The transaction is expected to reach financial completion by the end of February.
As part of the transaction, Industry Funds Management (IFM) will become an investor in M.A.G investing significant new equity and taking a 35.5% interest in the enlarged group, after having worked in close partnership with M.A.G through the acquisition process of Stansted Airport.
M.A.G has a detailed integration plan in place to ensure a seamless transition of ownership and operations at Stansted which will maintain business as usual for passengers and customers. The combined group that this acquisition creates will generate significant benefits for all stakeholders.
M.A.G has a proven track record in successful airport management as the owner and operator of Manchester, East Midlands and Bournemouth airports. In the twelve months ending 31 March 2012, M.A.G’s passenger numbers rose by 6.7%, revenues increased by 8.6% and underlying operating profit was up by 26%.
IFM has investments in nine airports across Australia, including five major state capital city airports. In the UK, IFM already has significant investments in Anglian Water, the fourth largest water and sewerage company in England and Wales, and Arqiva Limited, the UK’s largest broadcast and wireless communications infrastructure company.
Sir Richard Leese, Leader of Manchester City Council, M.A.G’s current majority shareholder said:
"M.A.G is a key driver of jobs and growth in the North of England and the acquisition of Stansted will help us deliver maximum value for Manchester City Council and the other local authority shareholders."
Charlie Cornish, Chief Executive of M.A.G commented:
“We are delighted to be successful in our bid for Stansted Airport, the London airport for Europe. The transaction represents a significant milestone in the achievement of our previously stated strategy of adding a quality airport to the group and delivering long term value to our shareholders.
“M.A.G has a strong track record of creating shareholder value through strategic investment and enhancing operations to improve customer service and drive increased passenger numbers. We will use that expertise at Stansted to ensure that the airport can fulfil its potential as a high quality alternative London access point for global air travellers. Stansted has scope to benefit from significant volume growth over the short, medium and long term.
“Our bid for Stansted has been under development for well over a year. We have been delighted to work closely with IFM to create a compelling and unique partnership that has been instrumental in providing the capital for this important transaction which sees one of Europe’s largest airport operators now based in Manchester. Today’s announcement is excellent news for M.A.G and our shareholders; it marks the start of a new chapter for the Group.”
Christian Seymour, Head of Infrastructure, Europe, at IFM commented:
“We are delighted by today’s announcement which will see IFM become a strategic investor in M.A.G. It is the culmination of 18 months’ work developing a strong, long term partnership with M.A.G, and is an important part of our focused strategy of investing in core, high-quality infrastructure assets. IFM is a highly experienced investor in airports, having invested in these assets since 1997.”
Lord Peter Smith, chair of the Association of Greater Manchester Authorities, said:
"This represents a good deal for the local authority shareholders which will give Manchester Airport Group a stake in the important South East air traffic market and strengthen M.A.G by enabling it to capture synergies with airline operations at both Manchester and Stansted, expanding the network of services and encouraging growth.”
J.P. Morgan Cazenove acted as financial adviser and RBS as debt adviser to MAG. Gleacher Shacklock LLP acted as financial adviser to IFM.
ENDS

Notes to editors
The funds for the acquisition come from new equity raised from IFM, together with investment grade financing. All the existing shareholders’ equity has been maintained in the Group.

http://www.manchesterairport.co.uk/manweb.nsf/content/M.A.GSUCCESSFULINBIDFORSTANSTEDAIRPORT