Simmons & Simmons Advises Infratil on sale of Glasgow Prestwick Airport to Scottish Government
25 Nov 2013
International law firm, Simmons & Simmons, advised Infratil on the sale of Glasgow Prestwick Airport to TS Prestwick Holdco Limited, a company owned by the Scottish Ministers. The transaction exchanged and completed on 22 November 2013.
The Simmons & Simmons team advised Infratil on the tax aspects of the sale, and on certain internal transactions within Infratil’s UK group to assist in facilitating the sale. This follows Simmons & Simmons’ recent work for Infratil on the sale of Manston Airport in East Kent to Ann Gloag, co-founder of the Stagecoach Group.
"Recognising the importance of the airport to the local communities and regional and national economy, Infratil's preference has always been to secure a new owner with the capacity to support the future success of Glasgow Prestwick Airport" said Marko Bogoievski, Chief Executive of Infratil. "We believe that a Scottish Government acquisition achieves that objective and Infratil Limited is very pleased to have successfully completed the transaction."
The Simmons & Simmons team was led by London tax partner Mark Sheiham, supported by corporate partner Giles Dennison and by Laura Allwright and Matthew Rogers. Simmons & Simmons worked alongside McClure Naismith who led the corporate work on the sale. MacRoberts acted for the Purchaser.
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