ASSOCIATED BRITISH PORTS SELLS U.S. AVIATION ARM
Associated British Ports Holdings PLC, the U.K.-based port group, announced on Tuesday (July 30) an agreement to sell its U.S.-based aviation division.
Subsidiaries of Macquarie Global Infrastructure Funds will acquire the business for $50 million in cash, subject to approval by the relevant airport and regulatory authorities.
The U.S. aviation division of Amports, currently owned by Associated British Ports, manages five airport facilities at Atlantic City
international airport, N.J., Teterboro, N.J., Republic Airport, N.Y., Westchester country airport, N.Y., and Tweed New Haven airport, Conn. The division also operates five fixed-base operations, which provide aircraft refuelling, maintenance and hangar services.