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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Infratil Ltd | ASX:IFT | Australian Stock Exchange | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 11.32 | 11.40 | 11.99 | 0.00 | 21:07:59 |
From Dec 2019 to Dec 2024
By Lucy Craymer
WELLINGTON--The Scottish government is looking to buy Glasgow Prestwick Airport from New Zealand infrastructure investment firm Infratil (IFT.NZ), the company said in a statement Wednesday.
The statement said the government is set to begin due diligence on the airport, and it is hoped that negotiations will be completed by Nov. 2013. During this time Infratil will continue to run the airport in the same manner it has over the last 12 months.
Infratil has been looking for a buyer for this airport, along with a second--Kent International Airport in England--since March 2012 as the airports have failed to deliver the expected passenger growth and financial returns. Infratil has had to continually write down the value of its European airport assets. In May it said the two airports together were worth just 11 million British pounds (US$17.6 million). The sale of the Kent Airport is ongoing, the company said.
Infratil said it did not expect the sale of Glasgow Prestwick Airport to have a material impact on the company's results.
The Scottish government was unavailable for comment.
Write to Lucy Craymer at lucy.craymer@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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