23 July 2013
Clifford Chance advises Abertis Infraestructuras S.A. on the sale of airport assets in Europe and the US to ADC & HAS Airports Worldwide
International law firm Clifford Chance has advised Abertis Infraestructuras S.A. on the sale by TBI Airport Holdings Limited of Belfast International and Stockholm Skavsta airports, as well as the Orlando Sanford (Florida) airport terminal concessions and TBI's airport management business in the United States. The acquisition by ADC & HAS Airports Worldwide for an enterprise value of EUR 284 million is subject to regulator approval in the United States and local authority approval in Belfast and Stockholm.
Abertis is a leading international group managing mobility and telecommunications infrastructure through three business areas: toll roads, telecommunications infrastructure and airports. The transaction forms part of Abertis' strategy to continually manage its portfolio in order to optimise its asset base. Clifford Chance also advised Abertis on its sale of Cardiff airport to the Welsh government in March 2013.
The Clifford Chance team was led by corporate partner Joel Ziff with assistance from US partners Robert Masella, George Kleinfeld and Ignacio Suarez and support from senior associates Melanie Howard and Eleanor West. Partners Nick Mace and Imogen Clark advised on the tax and pensions aspects respectively.