The Vancouver Airport Authority and Citi Infrastructure Investors will pursue the sourcing, funding and maximization of potential airport opportunities via YVR Airport Services Ltd.
CII also will acquire 50% of YVRAS shares; in exchange, YVRAS will become CII’s exclusive platform for investing in airport assets.
“This is a new chapter in a great made-in-B.C. success story,” says Graham Clarke, chairman of the Vancouver Airport Authority Board of Directors. “In only 12 years, YVRAS has grown from three people and a bold idea into a major airport development company, operating 18 airports in seven countries.”