Canadian company buys Durham Tees Valley Airport stake (From The Northern Echo)

Canadian company buys Durham Tees Valley Airport stake

11:47am Tuesday 22nd June 2010 in

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VANCOUVER Airport Services has agreed to buy a 65 per cent share in Durham Tees Valley Airport (DTVA) owner Peel Airports Limited.

Peel Airports Limited will continue to own 75 per cent of DTVA, with the six local authorities owning the remaining 25 per cent.

The Peel Group will retain a 35 per cent investment in Peel Airports Limited and a presence on the board and looks forward to the opportunities the strategic partnership with Vancouver Airport Services will generate.

George Casey, President and chief executive of Vancouver Airport Services said: “Vancouver Airport Services has a strong track record of investing in and providing value-added management services for airports around the world."

Peel Group Chairman John Whittaker added: "We are delighted to move forward and partner with Vancouver Airport Services. Its network of international airports and expertise as a leading airport specialist will further increase the success of these growing regional airport businesses."

Full story in tomorrow's business section