As you know, in December 2011 Peel Airports Limited announced that it was to sell the majority shareholding it holds in Durham Tees Valley Airport and since this time, PwC have actively been seeking a buyer for these shares.
I am pleased to announce that Peel Airports Limited have today concluded the sale of its majority shareholding in Durham Tees Valley Airport to Peel Investments (DTVA) Limited, a wholly owned subsidiary of the Peel Group, securing the continuation of operations and business at the airport.
Peel Airports Limited is 65% owned by Vantage Airport Group (formerly Vancouver Airport Services) and 35% by the Peel Group. Peel Investments (DTVA) Limited is now the majority shareholder in Durham Tees Valley Airport, with the remaining minority shareholding continuing to be owned by the six local authorities.
Going forward, Peel Airports Limited has been asked by the Peel Group to act in an advisory role to assist with the day to day operations at the airport. Steve Gill will continue in his role as Airport Director and Shaun Woods will remain as the Airport Manager. This change of ownership will mean it will be business as usual for airport employees, airlines and passengers using Durham Tees Valley Airport.
As an organisation with a business interest at the airport, colleagues will be in touch shortly to discuss this change of ownership and any implications for your business.
I appreciate this has been a period of uncertainty for companies based at the airport and may I take this opportunity to thank all our partners for their continued hard work and commitment during this time.
CEO, Peel Airports Limited
Contact firstname.lastname@example.org if you require any further information.
Durham Tees Valley Airport