Ontario Teachers’ Pension Plan plans to buy out its partner and take ownership of the ninth-largest airport in the United Kingdom.
It will purchase Macquarie European Infrastructure Fund’s 50% stake in Bristol Airport for an undisclosed amount.
Since 2001, the airport’s route network has grown significantly to reach 107 destinations served by 13 airlines. As a result, passenger numbers have grown on average by 7% annually to exceed six million in 2013, making it one of the fastest growing airports in the U.K.
“Teachers’ looks forward to continuing our relationships with all stakeholders at Bristol Airport and supporting its further development,” says Andrew Claerhout, senior vice-president of Teachers’ infrastructure group.
The transaction is due to close by the end of this month.
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