Global Infrastructure Partners (GIP) is selling a 50.001% stake in Gatwick airport to Vinci Airports.
The deal is expected to close in the middle of next year and Global Infrastructure Partners will still keep a 49.99% stake in the group.
Vinci is not new to the airport business and owns Lyon-Saint-Exupéry Airport, Nantes Atlantique and Grenoble Alpes Isère in France as well as airports in Portugal and Japan.
“We expect the transaction to be completed by the middle of next year, with the senior leadership team remaining in place,” said Michael McGhee, a partner at Global Infrastructure Partners.
“Their focus, along with everyone at Gatwick, obviously remains on doing their very best for customers over the busy holiday period after the challenges of recent days.”
Nicolas Notebaert, who is the president of Vinci Airports, said: “As Gatwick’s new industrial partner, Vinci Airports will support and encourage growth of traffic, operational efficiency and leverage its international expertise in the development of commercial activities to further improve passenger satisfaction and experience.”
Gatwick faced heavy disruption in the runup to Christmas following reports of drone sightings.
A couple were arrested in relation to the drone sightings but were released without charge.
Chief Executive of Global Infrastructure Partners, Stewart Wingate, said of the drone chaos caused at Gatwick: “I know this unprecedented criminal activity caused huge inconvenience to thousands of people – many of whom missed important family events in the run up to Christmas. We have appreciated the understanding and tolerance shown at what was a really challenging time for everyone, and we are grateful that passengers recognised that we should never do anything that might jeopardise their safety.”
Gatwick is the eighth busiest airport in Europe based on passenger numbers. Around 46 million passengers travel to and from 74 countries through the London-airport every year.