Ferrovial acquires Bristol Airport, the most important in Southwest England.
· The operation involves an total investment of 320 million euros.
·Acquires 100% of the company ownering the airport via a 50:50 consortium with the australian Macquarie Bank group.
·Ferrovial is the first Spanish company to acquire a European airport.
·Strategic value of the operation: introduces Ferrovial as an airport operator in the UK, one of the leading sources of international passenger traffic and one with considerable growth potential.
·Through subsidiary Cintra, Ferrovial is Spain´s leading operator of international airports and manages 12 airports in the UK, the US, Mexico and Chile.
·Ferrovial enhances its position in the infrastructure concession business, where it is the world leader in terms of total investment (over 1.256 billion euros).
·The airport handled 2 million passengers in 1999, its catchment area has a population of 8 million and 52 millon euro revenues in 2000.
Ferrovial has acquired Bristol International Airport (BIA) for a total 320 million euros (54 billion pesetas), through Cintra, its subsidiary that specialises in transport infrastructure concessions. Bristol is the most important airport in Southwest England. The deal involves the puchase of 100 per cent of the shares of BIA´s ownering company, formed by Bristol City Council and FirstGroup plc. The winning consortium is a 50/50 partnership of Cintra and Macquarie European Infrastructure Lrd. The consortium competed against 16 other international bidders.
7-8% annual traffic growth
The purchase of Bristol International Airport (BIA) has a particular strategic value for Ferrovial, as it consolidates its position as an airport operator in the UK, one of the most important European "originating" markets and one with a great growth potential.
Bristol International Airport (BIA) is one of the nearest regional airports to London. Last year, the airport handled two million passengers and the traffic growth over the last five years was 9% per annum. Its population catchment area is eight million. The forecast for traffic growth over the next 10 years is between 7-8% per annum.
52 millon euro revenues estimated in 2000
Ferrovial and Macquarie have purchased the entire airport, including land, buildings and facilities. They will operate all airport services, including aeronautical operations, air traffic control, rescue and fire fighting, aircraft fueling and car parking. Airport revenues in 2000 are estimated in 52 million euros, and operating profits are estimated in 20 million.
Bristol has a new terminal building, which opened in March 2000, with estimated annual capacity of 5 million passengers. Bristol also operates one of the largest airport car parks in the UK with 7.000 car spaces. Bristol airport is completing the renewal of its major infrastructure facilities with the construction of a new air traffic control tower, which will put in service in mid 2001.
Spain´s leading international airport management company, with 12 airport
This operation makes Cintra Spains largest international airport management company in terms of the volumen of committed investment and sales. Market consolidation and growth are the strategic priorities of Cintra´s airport division. With the purchase of Bristol, Cintra operates 12 airports in the UK, Mexico, Chile and the US, with traffic totalling 14 million passengers.
Bristol joins the 9 Mexican airports that Cintra has participated since 1999, as well as Antofagasta airport in Chile and Niagara Falls in New York State, where Cintra achieved the position of operator in the US.
Cintra also operates 17 toll roads in Europe, North America and South America, and more than 130,000 car park spaces in Spain, Portugal and Puerto Rico. Cintra is the world leader in transport infrastructure concessions by volume of investment, which total more than 1,256 million euros.
Macquarie is Australias leading investment bank, with total assets in excess of 9.4 billions of pounds, and a further 14.9 billions of pounds in funds under management and administration. It is listed on the Australian Stock Exchange and ranks as one of Australias largest 30 companies by market capitalisation.
Macquarie is at the forefront of the infrastructure sector, both in Australia and internactionally, and has one of the largest and most successful infrastructure businesses in the world. Macquarie manages infrastructure funds and investments in projects in the UK and Europe valued at nearly 3 billions of pounds.