Spanish multinational Ferrovial is selling its shares in Aberdeen, Glasgow and Southampton airports.

Construction giant and Australian Macquarie, which owns 50 percent of AGS Airport, is selling the operator for £900 million (€1.08 million).

This puts the deal at an enterprise value of £1.54bn (€1.85bn) after including £653m (€785.61m) of debt.

Ferrovial expects to complete the AGS Airport transaction in the first three months of 2025, subject to the usual regulatory approval, and anticipates a capital gain of approximately €290 million.

Ferrovial, which currently operates in New York as well as Spain, moved its headquarters from Madrid to Amsterdam last year and focused on its main market, the USA. In 2022, the consortium that will design, build and operate New York’s airport when it opens in 2026 acquired a stake in JFK Terminal One.