©Andrii IURLOV - stock.adobe.comPaul Hastings , A&O Shearman Advise as 3 of Britain's Airports Change Hands
Paul Hastings has a track record for handling such transactions having led on the acquisition of Edinburgh Airport earlier this year.
November 14, 2024 at 06:35 AM
2 minute read
Paul Hastings and A&O Shearman have advised on the £1.53 billion acquisition of AGS Airports.
Canadian pension investors PSP Investments and AviAlliance are acquiring AGS, which owns Aberdeen, Glasgow and Southampton airports, from infrastructure companies Ferrovial and Macquarie.
Energy and Infrastructure M&A partner Jessamy Gallagher led the Paul Hastings team advising the acquirers. The team also included partners Candice Lambeth, Nikolaos Paschos, Ruth Knox as well as finance partner Stuart Rowson and tax partner Jiten Tank. A&O Shearman advised on the sellers’ side, led by Richard Evans.
Paul Hastings has a track record for handling such transactions. Earlier this year Gallagher led on the acquisition of the majority shareholding in Edinburgh Airport by VINCI airports for £1.27 billion. That team also included Lambeth, Knox and Rowson.
In 2022, Gallagher topped a ranking of U.K. corporate lawyers working on the most deals. She and Rowson left Linklaters for Paul Hastings in January 2023.
On other airport deals, Ferrovial sold its stake in another U.K. airport to a public investment fund in June, handing its share in Heathrow to the Saudi PIF and French private equity fund Ardian.
On the latest transaction, Shepherd and Wedderburn advised on Scots law aspects of the transaction.
The transaction is subject to regulatory approvals and is expected to complete in Q1 2025.
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