UPDATE 1-Vinci seals deal for majority stake in Gatwick airport [Reuters (UK)]
VINCI SA UNSP/ADR (VCISY)
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Source: Reuters
Vinci seals deal for majority stake in Gatwick airport - Reuters 3 Min Read GATWICK, England/PARIS (Reuters) - French construction and transport concession group Vinci on Tuesday sealed a deal to take a majority stake in Britain’s second biggest airport London Gatwick. Vinci formally completed its 2.9 billion pounds deal to buy a 50.01% stake in the airport, which was first announced last December The company took advantage of a Brexit-related hit to UK asset prices to buy the stake in Gatwick, which is Britain’s second-busiest airport after London Heathrow. Sterling has fallen around 10% in the last 13 months, as British Prime Minister Theresa May has failed to pass her Brexit deal, delaying Britain’s departure from the European Union until October 31. But Vinci Airports President Nicolas Notebaert said he did not think that Brexit would change Gatwick’s prospects, given strong demand from tourists to travel to London and the number of people who live in Gatwick’s catchment area. “We
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