USA. Vantage Airport Group, the global airport investment, development and management company and Paris-based global investor and asset manager Meridiam have reached agreements to acquire an additional ownership interest in LaGuardia Gateway Partners (LGP) from Skanska.
LGP is the private consortium comprised of Vantage, Skanska, Meridiam and JLC Infrastructure which was selected by the Port Authority of New York and New Jersey to finance, develop and manage New York LaGuardia Terminal B. The US$5.1 billion, 35-gate terminal was completed in July 2022.
Skanska is divesting its full 32% ownership in LGP, with equal parts being acquired by Vantage and Meridiam for US$57 million each. As a result, Meridiam will now hold a 48% stake in the airport asset.
The transactions are conditional on regulatory approvals and customary terms and conditions.
Vantage Airport Group Chair & CEO George Casey said: “We have been glad to partner with Skanska on this ambitious project to successfully develop a new world-class Terminal B at LaGuardia. This transformative undertaking, one of the largest of its kind in US transportation history, has benefited from Skanska’s 134-plus years of development and construction expertise.
“We thank the team at Skanska for their contributions. In partnership with the Port Authority of New York and New Jersey, Vantage will continue to steward Terminal B’s success with our additional ownership interest and continued management of this world-class airport terminal under our management services agreement.” 
