Vancouver Airport Services Reaches Agreement with Peel Group

Reports suggest that Vancouver Airport Services has just recently reached an agreement with Peel Group to acquire a stake in the UK infrastructure subsidiary Peel Airports. The Canadian firm will take a 65 percent share in the company. The Peel Group controls key assets, including Liverpool John Lennon Airport, Robin Hood Airport, Durhma Tees Valley Airport and Doncaster Sheffield Airport.

John Whittaker, the Peel Group chairman, said that they are just delighted to move forward and partner with Vancouver Airport Services. Its network of international airports and expertise as a leading airport specialist will further increase the success of these regional airport businesses.

Under the terms of this new deal, Peel Group will retain a 35 percent investment in PAL and a presence on the board, and they look forward to the opportunities that this strategic partnership will make. Mr Whittaker went on to say that the retention of a significant investment in the join venture, together with the associated airport related property, is firmly in line with their strategy of creating long term partnerships.

Peel Group is a leading infrastructure, transport and real estate enterprise in the UK, and its assets exceed £6 billion. The Vancouver Airport Services president, George Casey, said that Vancouver Airport Services has a strong track record of investing in and providing value added management services for airports around the world. Thus, Vancouver Airport Services looks forward to working with Peel Group and the stakeholders involved in these airports.

For those that do not know, Vancouver Airport Services is a leading global airport investment, development and management company. It is jointly owned by Vancouver Airport Authority and Citi Infrastructure Investors.