Vancouver Airport Services has signed an agreement with the Peel Group to acquire a 65% stake in Peel Airports Limited (PAL).
Under the deal, Vancouver Airport will hold a majority interest in Liverpool John Lennon Airport (LJLA), Robin Hood Airport Doncaster Sheffield (DSA) and Durham Tees Valley Airport (DTVA).
The Peel Group will retain a 35% investment in PAL and have a presence on the board. It will also take part in the ventures the strategic partnership with Vancouver Airport Services will generate.
PAL owns 100% of LJLA and DSA and 75% of DTVA, while local borough councils own the remaining 25%.