The London-listed investment group ICG is closing in on a £200m deal to buy three of Britain’s biggest regional airports. Sky News has learned that ICG is expected to sign a formal agreement to buy Bournemouth, Exeter, and Norwich airports later this month. The trio of sites collectively serve just over 2 million passengers annually. ICG is buying the airports from Rigby Group, a privately owned conglomerate with interests in hotels, software, and technology sectors. Exeter acted as the hub for Flybe, the regional carrier that collapsed in the aftermath of the pandemic.
The deal comes amid a frenzy of activity involving Britain’s major airports as infrastructure investors seek to exploit a recovery in their valuations. AviAlliance, owned by the Canadian pension fund PSP Investments, agreed to buy the parent company of Aberdeen, Glasgow, and Southampton airports for £1.55bn last year. London City Airport’s shareholder base has just been shaken up with a deal that saw Australia’s Macquarie take a large stake. French investor Ardian has increased its investment in Heathrow Airport as the UK’s biggest aviation hub proposes an expansion that will cost tens of billions of pounds. ICG and Rigby Group declined to comment.
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