Manchester Airports Group completes Stansted takeover

Manchester Airports Group completes Stansted takeover

Manchester Airports Group has finalised the £1.5 billion takeover of Stansted Airport in the south-east of England from Heathrow Airport Holdings.

The sees Australian investor Industry Funds Management take a 35.5 per cent stake in the enlarged group.

Charlie Cornish, chief executive of MAG, said: “We aim to help Stansted fulfil its potential in the London market and bring more choice to its passengers in the years ahead.

“Today represents the achievement of a major strategic ambition for M.A.G and we look forward to working alongside staff, partners and stakeholders in ensuring the group’s success.”

MAG will now start integrating Stansted into the group, which also includes Manchester, East Midlands and Bournemouth Airports.