Paul Hastings advises VINCI on major acquisition, marking a significant step in airport operations

In a significant development in the airport sector, VINCI Airports, the world's leading private airports operator, has entered into an agreement to acquire the majority shareholding in Edinburgh Airport Limited for £1.27 billion. The deal, subject to potential adjustments prior to completion, underscores VINCI's strategic vision for expanding its presence in key aviation hubs.

Strategic Partnership

Under the terms of the agreement, VINCI will secure a 50.01% stake in Edinburgh Airport Limited, while the remaining 49.99% will be retained by Global Infrastructure Partners (GIP), the current owner of the airport. This acquisition represents a pivotal moment in the ongoing strategic partnership between VINCI and GIP, which was initiated in 2019 with VINCI's acquisition of a majority stake in London Gatwick Airport.

Legal Counsel and Expertise

Paul Hastings (Europe) LLP played a pivotal role in facilitating this landmark transaction. Led by Energy and Infrastructure M&A partners Jessamy Gallagher and Candice Lambeth, the team provided comprehensive legal counsel throughout the process. Associates Jo Lee, Emily Madden and Hattie Jones. along with partners Stuart Rowson and Ally McKechnie, contributed their expertise to ensure the smooth execution of the deal. Additionally, partner Jade-Alexandra Fearns offered guidance on antitrust and NS&I matters, while partner Ruth Knox provided valuable insights on ESG considerations.

Regulatory Path

With the transaction expected to be finalised in the summer of 2024, regulatory approvals remain a crucial milestone on the path to completion. Once regulatory clearance is obtained, VINCI will take the helm of Edinburgh Airport, poised to leverage its expertise and resources to drive growth and innovation in airport operations.

A Vision for the Future

The acquisition of Edinburgh Airport aligns with VINCI's broader vision of enhancing connectivity and passenger experience across its global portfolio. By integrating Edinburgh Airport into its network, VINCI aims to further strengthen its position as a leading player in the aviation industry, while also contributing to the economic development of the region.

As the transaction moves towards completion, all eyes are on VINCI and Edinburgh Airport, anticipating the synergies and opportunities that will emerge from this strategic partnership. With its proven track record and commitment to excellence, VINCI is poised to chart a new course for Edinburgh Airport, ushering in a new era of growth and prosperity in air travel.

of growth and prosperity in air travel.