Exeter Airport set to be sold as part of £200m deal

EXETER Airport is being sold as part of a multi-million-pound deal.

- GUY HENDERSON

It is one of three regional airports to be snapped up by investment firm ICG, a London-based asset management company with offices in 17 countries and revenue of more than £970million.

It has reportedly agreed a deal with Rigby Group to buy Exeter along with airports at Bournemouth and Norwich for around £200million. The deal will be finalised later this month.

Exeter Airport, which hosts airlines including Tui, Ryanair, KLM and Aer Lingus, was owned by Devon County Council until 2007, when it was sold to Regional and City Airports for £60million.

It was then sold on in 2013 to Rigby Group for an undisclosed sum.

Ludovic Laforge, managing director at ICG European Infrastructure, said: “We're proud to be partnering with one of the UK’s most dynamic regional airport groups in a transaction that underscores our commitment to supporting high-potential infrastructure assets.