A consortium comprising J.P. Morgan, Incheon and TIAA-Cref, a U.S teachers pension fund, has submitted their bid for the acquisition of Edinburgh Airport. This sale results from the Competition Commission ruling requiring BAA sell this airport asset.
Edinburgh Airport is the largest airport in Scotland, recording 7.3 million passengers during the first three quarters of 2011. Around 40 airlines utilise the airport, flying to 120 destinations. Industry souces predict the airport to sell for around £500m.
Operis provided a full Model audit with a Tax and Accounting review for the consortium’s acquisition bid.