Scotland pays Infratil 1 pound for Glasgow Prestwick airport

Sun, 24 Nov 2013

By Paul McBeth Nov. 25 (BusinessDesk) - Infratil, the Wellington-based infrastructure investor, has sold its unprofitable Glasgow Prestwick Airport to the Scottish government for 1 British pound. The transaction was completed over the weekend and will see the airport transferred to TS Prestwick Holdco, an entity wholly-owned by the Scottish Ministers, for a cash consideration of 1 pound. The purchase price reflected the need for more investment, and the Scottish government is seeking a commercial partner to operate the airport on its behalf,...

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