November 24, 2013 / 7:58 PM / 6 years ago

Infratil sells Glasgow Prestwick Airport to Scottish government

WELLINGTON (Reuters) - New Zealand utilities investor Infratil (IFT.NZ) on Monday said it had sold Glasgow Prestwick Airport to TS Prestwick Holdco Limited, an entity wholly owned by the Scottish government, for 1 pound ($1.62), as the company unloads more airports from its portfolio.

“Infratil’s preference has always been to secure a new owner with the capacity to support the future success of Glasgow Prestwick Airport,” Infratil CEO Marko Bogoievski said in a statement.

“We believe that a Scottish Government acquisition achieves that objective and Infratil Limited is very pleased to have successfully completed the transaction.”

He did not offer any additional details on the sale, which follows Infratil’s announcement last month that it would sell Manston Airport in Britain to Ann Gloag, the co-founder of Stagecoach Group (SGC.L) for 1 pound ($1.62) and other adjustments worth around 350,000 pounds ($566,500).

Reporting by Gyles Beckford; Editing by Sandra Maler

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