(Reuters) -Macquarie Group’s asset management arm will acquire an additional 50% stake in London City Airport, raising its total ownership to 75%, the Australian investment firm said on Wednesday, as it deepens its presence in UK infrastructure.
Macquarie did not disclose the terms of the transaction.
London City Airport, located in the UK capital’s financial district, handles more than 50,000 flights annually across over 30 destinations in the UK and Europe.
Macquarie has been investing in airports globally for over two decades, with past and current holdings including Bristol, Birmingham, and airports in Belgium, Italy, and Australia.
The previously announced acquisition of stakes in Bristol and Birmingham airports is expected to reach financial close by end of October, the financial conglomerate said in a statement.
(Reporting by Roshan Thomas in Bengaluru; Editing by Mrigank Dhaniwala)
