Blackstone Acquires Stake in AGS Airports for $304 Million

Blackstone, a prominent US private equity investor, has announced its intention to acquire a 22% stake in Aberdeen, Glasgow, and Southampton airports for £235 million ($304 million). The stake will be purchased from the current owner, Canadian pension investor PSP, which will retain the remaining share of the business. This investment follows a recent transaction by Qatar's Lesha Bank, which indirectly acquired a stake in Edinburgh Airport through an infrastructure-focused fund investment. This investment aligns with the bank's strategy to focus on resilient assets and global infrastructure investments, particularly in aviation. AGS was originally acquired by PSP last year from the Spanish group Ferrovial and Australian asset manager Macquarie at an enterprise value of £1.5 billion. The deal highlights Blackstone's focus on transportation as a key investment area, driven by the robust growth in global leisure travel. This acquisition also follows Ferrovial's recent transaction with private equity firm Ardian and the Saudi Arabian sovereign wealth fund PIF regarding Heathrow. The strategic move reinforces Blackstone's position in the UK infrastructure sector, particularly in aviation-related assets.