PSP Investments and AviAlliance Acquire AGS Airports for £1.53 Billion
Deal News | Nov 13, 2024 | Paul Hasting
Paul Hastings LLP played a pivotal advisory role in the acquisition of AGS Airports by PSP Investments and AviAlliance, with the deal valued at an enterprise value of £1.53 billion. AGS Airports, the holder of key UK airports such as Aberdeen, Glasgow, and Southampton, was purchased from Ferrovial and Macquarie. The acquisition highlights PSP Investments' commitment to expanding its infrastructure portfolio, especially in strategic transport assets. Led by Energy and Infrastructure M&A partner Jessamy Gallagher, the Paul Hastings team brought together a robust lineup of legal experts across several practice areas including finance, tax, and mergers & acquisitions. This transaction represents a significant move in the airport investment landscape, placing PSP Investments and AviAlliance at the forefront of private airport management. However, completion of the deal is contingent upon regulatory approvals, anticipated in the first quarter of 2025. Paul Hastings continues to demonstrate its prowess in high-profile M&A transactions, showcasing its global reach and sectoral expertise.
Sectors
- Infrastructure
- Investment Management
- Legal Services
Geography
- United Kingdom – AGS Airports owns key airports in Aberdeen, Glasgow, and Southampton, indicating the geographic focus of the acquisition.
- Canada – PSP Investments is one of Canada's largest pension investors, emphasizing the investors' origin and base of operations.
Industry
- Infrastructure – The acquisition of AGS Airports involves significant infrastructure assets, specifically airports which are vital transport hubs.
- Investment Management – PSP Investments, as one of Canada's largest pension investors, is engaged in managing large-scale investments including this acquisition.
- Legal Services – Paul Hastings provided legal advisory services for the acquisition, demonstrating expertise in complex M&A transactions.
Financials
- £1.53 Billion – Enterprise value of the acquisition of AGS Airports.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Paul Hastings LLP | Legal Advisor | Companies | A premier law firm providing advisory services globally across finance, mergers & acquisitions, and more. |
| PSP Investments | Bidding Company | Companies | One of Canada's largest pension investors, involved in acquiring AGS Airports. |
| AviAlliance GmbH | Bidding Company | Companies | A leading private airport investor and operator, involved in the acquisition of AGS Airports. |
| AGS Airports | Target Company | Companies | Owner of Aberdeen, Glasgow, and Southampton Airports. |
| Ferrovial | Selling Company | Companies | Previous owner of AGS Airports, involved in the sale to PSP Investments and AviAlliance. |
| Macquarie | Selling Company | Companies | Previous owner of AGS Airports, involved in the sale to PSP Investments and AviAlliance. |