Carson McDowell advises OMERS Infrastructure in Sale of Airports Worldwide to Vinci Airports
25 April 2018
OMERS Infrastructure, the infrastructure investment manager of OMERS, the defined benefit pension plan for municipal employees in the Province of Ontario, Canada, announced on 24th April 2018 that it has entered into a definitive agreement to sell its interests in Airports Worldwide ("AWW") to Vinci Airports.
Active on two continents, AWW is a portfolio of airport assets and management contracts located in the United States, Costa Rica, Northern Ireland and Sweden. Carson McDowell advised on all NI aspects of the sale.
"OMERS first invested in AWW in 2009. We have focused our efforts since that time on positioning the asset for long-term success, and are very proud of the value we have created with this investment for OMERS members. We wish the AWW team and Vinci all the best, as the company takes this next step in its evolution," said Ralph Berg, Executive Vice President & Global Head of Infrastructure, OMERS Private Markets.
"OMERS has worked closely with the management teams across the group to grow the portfolio, optimize performance and build strong relationships with airline partners and other stakeholders. We are grateful to AWW management for their efforts and wish them continued success," added Juan Camargo, Director, OMERS Infrastructure.
The transaction is expected to close later this year. Further financial information will not be disclosed.
About Airports Worldwide
The AWW portfolio comprises operations at 12 airports located in the United States, Costa Rica, Northern Ireland and Sweden. AWW interests include long-term management contracts or concession agreements at the Orlando-Sanford International Airport in Florida, and Costa Rica's two main airports, Juan Santamaria International Airport (San José) and Daniel Oduber Quiros International Airport (Liberia). AWW also owns as freehold airports Belfast International Airport in Northern Ireland, and the majority interest in Stockholm Skavsta Airport.
In addition, AWW provides services under management contracts at seven US airports, including Hollywood Burbank Airport and Ontario International Airport (California), Atlantic City International Airport (New Jersey), Raleigh Durham International Airport (North Carolina), Macon Airport and Middle Georgia Regional Airport (Georgia) and the International Terminal, including Concourses E and F, at the Hartsfield Jackson Atlanta International Airport (Georgia).