Ferrovial Airports has entered an exclusivity agreement with Carlyle Group to negotiate the purchase of its stake in New Terminal One (NTO), a consortium in charge of designing, constructing and running the new terminal at John F Kennedy (JFK) International Airport in New York, US. 

A private consortium, NTO includes Carlyle, JLC Infrastructure and Ullico.

The new terminal will replace the outdated Terminal 1, 2 and the former Terminal 3 that was demolished in 2013.

Carlyle holds a 51% stake in NTO and if an agreement is signed between the two parties, Ferrovial Airports would acquire 96% of the said stake.

Although Ferrovial Airports did not reveal details of the transaction, Bloomberg reported citing people familiar with the matter that the company plans to invest more than $1bn in Carlyle Group.

Completion of the deal awaits the clearance of the Port Authority of New York and New Jersey.

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By GlobalData

In December last year, the Port Authority of New York and New Jersey signed a revised agreement with NTO for the new $9.5bn international terminal project at the JFK airport.

It was also said that the new 2.4 million-square-foot terminal is on track to break ground in 2022.

Last week, Ferrovial Airports agreed to purchase a 60% interest in YDA Group, which manages Turkey’s Dalaman International Airport (DLM) concession for $159m (€140m).

Under the agreement, YDA Group will retain the remaining 40% stake in the airport, which has one domestic and one international terminal, and can handle more than 20 million passengers per year.