Highstar Capital in Acquisition of a 25% Interest in London City Airport
October 02, 2008
Cleary Gottlieb is representing Highstar Capital in its acquisition of a 25% interest in London City Airport from Global Infrastructure Partners for an undisclosed price.
The deal will make Highstar Capital a minority owner in London City Airport while Global Infrastructure Partners, an independent fund that invests in infrastructure assets worldwide, will hold the majority. Following the transaction, Global Infrastructure Partners will hold 75% and Highstar will hold 25% of the business.
The London City Airport is the UK's leading business airport, with ten airlines serving 33 destinations across the UK and Europe and connections to the rest of the world through major European hubs. The airport experienced record growth in 2007 with over 2.9 million passengers traveling through the terminal, a 23% increase from 2006. The airport’s location on the doorstep of London’s financial district is considered vital to business and plays an integral part in keeping up with the growth of the UK’s capital city.