US private equity investor Blackstone plans to acquire a stake in Aberdeen, Glasgow and Southampton airports for 235 million pounds ($304 million), according to FT.

Blackstone said it has struck a deal with the AGS owners, Canadian pension investor PSP, for a 22% stake; PSP will continue to own the rest of the business, the news report stated.

The news follows Qatar’s Lesha Bank indirectly acquiring a stake in Edinburgh airport, through an investment in an infrastructure-focused investment fund managed by an infrastructure fund manager. Financial details of the deal have not been disclosed.

The bank said this investment aligns with its focus on “resilient asset classes and marks its entry into the global infrastructure investment market” and was also key towards its aviation strategy.

Similarly, Greg Blank, chief executive of Blackstone Infrastructure Strategies, told FT that transportation was a “thematic focus area for Blackstone, given continued strong global growth in leisure travel.”

AGS was acquired by PSP last year from the Spanish construction group Ferrovial and Australian asset manager Macquarie at an enterprise value of £1.5 billion.

Ferrovial was also struck a deal last year with private equity group Ardian and Saudi Arabia’s sovereign wealth fund PIF to sell the vast majority of its stake in Heathrow.

(Writing by Bindu Rai, editing by Brinda Darasha)

bindu.rai@lseg.com