| Balfour Beatty buys Blackpool Airport |
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| Tuesday, 06 May 2008 | |
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Balfour Beatty has acquired a 95% stake in Blackpool International Airport through its Regional and City Airports division. Balfour Beatty is paying £14m in cash to acquire the stake from Mar Properties, a property developer based in Northern Ireland. The transaction is subject to the approval of Blackpool Borough Council, which owns the remaining 5% stake in the airport. The council is supportive of the transaction and expects to ratify it by 9 May. "Blackpool International is a well-located airport with the potential to become a thriving international gateway to Lancashire and Cumbria," said Balfour Beatty chief executive, Ian Tyler.
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