Peel ‘to sell UK airports’
07.03.10
Peel Group, the property and transport infrastructure investor, is in talks to sell a majority stake in its airports division that could help fund an £800 million bid, announced on Friday, for Forth Ports, one of Britain's biggest port operators, the Mail reports. The private company controlled by John Whittaker is reported to be in talks with Canada's Vancouver Airport Services (VAS) to sell Peel Airports. These comprise Liverpool John Lennon, Robin Hood Doncaster Sheffield, Durham Tees Valley and City Airport Manchester.
A sale of the division could raise up to £200 million, and Peel was reported to be in talks with the Canadian company last month over a minority investment in its airports arm. A Peel spokesman declined to comment on talks, but confirmed the firm would like to sell part of its loss-making airport arm. VAS operates 18 airports around the world, handling 30 million passengers a year. The company, which also declined to comment on the talks, specialises in turning round failing airports.
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