OMERS Infrastructure has agreed to sell its interest in Airports Worldwide Inc, a Houston-based investor in and developer and operator of privatized airports, to Vinci Airports, an affiliate of France’s Vinci SA. No financial terms were disclosed for the deal, which is expected to close later this year. It will give Vinci a portfolio of airport assets and management contracts located in the United States, Costa Rica, Northern Ireland and Sweden. OMERS Infrastructure, an investment arm of Ontario Municipal Employees Retirement System, first invested in Airports Worldwide in 2009.
OMERS Infrastructure Agrees to Sale of Airports Worldwide to Vinci Airports
TORONTO, April 24, 2018 (GLOBE NEWSWIRE) — OMERS Infrastructure, the infrastructure investment manager of OMERS, the defined benefit pension plan for municipal employees in the Province of Ontario, Canada, today announced that it has entered into a definitive agreement to sell its interests in Airports Worldwide (“AWW”) to Vinci Airports.
Active on two continents, AWW is a portfolio of airport assets and management contracts located in the United States, Costa Rica, Northern Ireland and Sweden.
“OMERS first invested in AWW in 2009. We have focused our efforts since that time on positioning the asset for long-term success, and are very proud of the value we have created with this investment for OMERS members. We wish the AWW team and Vinci all the best, as the company takes this next step in its evolution,” said Ralph Berg, Executive Vice President & Global Head of Infrastructure, OMERS Private Markets.
“OMERS has worked closely with the management teams across the group to grow the portfolio, optimize performance and build strong relationships with airline partners and other stakeholders. We are grateful to AWW management for their efforts and wish them continued success,” added Juan Camargo, Director, OMERS Infrastructure.
The transaction is expected to close later this year. Further financial information will not be disclosed.
O’Melveny served as OMERS legal advisor; Citi served as OMERS financial advisor.
About Airports Worldwide
The AWW portfolio comprises operations at 12 airports located in the United States, Costa Rica, Northern Ireland and Sweden. AWW interests include long-term management contracts or concession agreements at the Orlando-Sanford International Airport in Florida, and Costa Rica’s two main airports, Juan Santamaria International Airport (San José) and Daniel Oduber Quiros International Airport (Liberia). AWW also owns as freehold airports Belfast International Airport in Northern Ireland, and the majority interest in Stockholm Skavsta Airport.
In addition, AWW provides services under management contracts at seven US airports, including Hollywood Burbank Airport and Ontario International Airport (California), Atlantic City International Airport (New Jersey), Raleigh Durham International Airport (North Carolina), Macon Airport and Middle Georgia Regional Airport (Georgia) and the International Terminal, including Concourses E and F, at the Hartsfield Jackson Atlanta International Airport (Georgia).
OMERS Private Markets (OMERS Infrastructure and OMERS Private Equity) invests globally in infrastructure and private equity assets on behalf of OMERS, the defined benefit pension plan for Ontario’s municipal employees. Investments are aimed at steady returns to help deliver strong and sustainable pensions to OMERS members. OMERS Private Markets’ diversified portfolio of large-scale infrastructure assets exhibits stability and strong cash flows, in sectors including energy, transportation and government-regulated services. OMERS has employees in Toronto and other major cities across North America, the U.K., Europe, Asia and Australia. OMERS is one of Canada’s largest defined benefit pension funds with net assets of more than C$95 billion. Visit www.omersprivatemarkets.com for more information.
Neil Hrab, Manager, External Communications and Media Relations
Photo courtesy of Reuters/Philippe Wojazer