Freshfields Bruckhaus Deringer, Clifford Chance (CC) and Allen & Overy (A&O) have all advised on the £394m takeover of Luton Airport.

A consortium formed by Spanish airport operator Aena and AXA Private Equity is set to acquire the airport from TBI Airport Holdings, the majority of which is owned by Spanish conglomerate Abertis.

The deal, which is expected to complete later this year, requires the green light from the European Commission, the Spanish Government and Luton Borough Council.

Freshfields City corporate partner Piers Prichard Jones led the firm's team advising the acquiring consortium, supported by London finance partner Alex Mitchell and Madrid antitrust partner Francisco Cantos. 

Prichard Jones said: "The acquisition of Luton Airport is a significant transaction for both Aena and AXA Private Equity. We have helped them by deploying a cross-practice, cross-jurisdictional team which has drawn on our considerable experience advising on other transactions in the aviation sector, including, in the UK, the sales of Stansted and Gatwick Airports."

CC acted for the seller with a team led by London corporate partner Joel Ziff, while A&O infrastructure partner Conrad Andersen acted for the banks.

The role for CC comes after the firm last month acted for longstanding client Abertis on its £243m sale of Belfast International and Stockholm Skavsta airports to ADC & HAS Airports Worldwide, fielding Ziff and US partners Robert Masella, George Kleinfeld and Ignacio Suarez.

Meanwhile, Freshfields acted for longstanding client Heathrow Airport Holdings (HAH) on its £1.5bn sale of Stansted Airport to Manchester Airport Group earlier this year in January, with a team led by international energy and natural resources co-head Laurie McFadden and corporate partner Frank Miller. Freshfields was also appointed by HAH, then known as BAA, to advise on corporate matters relating to the £1.5bn acquisition of Gatwick Airport in 2008.