Baker & McKenzie and Freshfields lead on Bristol Airport buy-out
Baker & McKenzie and Freshfields Bruckhaus Deringer have taken lead advisory roles on the buy-out of Bristol Airport by The Ontario Teachers' Pension Plan (OTPP).
September 22, 2014 at 07:09 PM
2 minute read
Baker & McKenzie and Freshfields Bruckhaus Deringer have taken lead advisory roles on the buy-out of Bristol Airport by the Ontario Teachers' Pension Plan (OTPP).
Canadian OTPP will become the sole share-holder of the airport after acquiring Macquarie European Infrastructure Fund's 50% stake in the business. The deal is expected to close at the end of September.
The pension fund turned to longstanding adviser Freshfields which fielded a team led by corporate partners Martin Nelson-Jones and Laurie McFadden along with finance partner Peter Hall.
The mandate is the latest in a number of aviation sector deals handled by Freshfields which acted on the sales of Luton Airport and Stanstead Airport in 2013.
OTPP first acquired a stake in Bristol in 2001, raising its holding to 49% in 2009 and purchasing Sydney Airport's 1% stake last year.
Baker & Mckenzie acted for Macquarie with a corporate team headed by partner Tim Sheddick.
Bristol Airport is the ninth busiest airport in the UK, serving 6 million passengers last year.
"Macquarie and Teachers' have been instrumental in supporting the expansion of the Airport's route network and significantly enhanced facilities for passengers. We look forward to working with Teachers' to continue investing in the Airport for the benefit of the region we serve,"said Bristol Airport chief executive, Robert Sinclair.
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