07.03.10
Peel Group, the UK infrastructure investor, is in talks about selling a majority stake in its UK airports arm that would help finance an £800m offer, announced on Friday, for Forth Ports, amongst Britain's biggest port operators, the Mail reports. The private corporation controlled by John Whittaker is said to be in discussions with Canada's Vancouver Airport Services (VAS) to sell a stake in Peel Airports, which owns Liverpool, Robin Hood, Durham Tees Valley and City Airport Manchester.
A sale of the airports arm may raise as much as £200m, and Peel had been understood to be in discussions with the Canadian firm last month over a minority investment in its airports arm. A Peel spokesman declined to comment on the talks, but said the company would like to sell a part of its loss-making airport arm. VAS operates 18 airports across the world, handling 30m travellers a year. The company, which also declined to comment on the discussions, specialises in turning round failing airports.
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