The airport serves as the only aviation access to the island for international passengers and Bermudans.
Canadian investment firm Connor, Clark & Lunn Infrastructure (CC&L Infrastructure) is set to acquire Aecon Group‘s 49.9% stake in Bermuda Skyport in a $128.5m deal.
Skyport is the concessionaire for LF Wade International Airport (Bermuda International Airport).
The remaining 50.1% Skyport stake will be retained by Aecon, which will remain the majority owner and operator of Bermuda International Airport.
CC&L Infrastructure president Matt O’Brien said: “We are excited to expand to a new sector and geography with the addition of this interest in a world-class airport.
“This investment is consistent with our strategy of investing in high-quality, long-duration assets in creditworthy jurisdictions.
“The L.F. Wade International Airport is an excellent example of a resilient, durable asset with potential for growth as passenger traffic recovers in the wake of Covid-19 – providing an attractive complement to our existing, well-diversified portfolio of infrastructure assets.”