Skanska divests ownership of LaGuardia Terminal B in New York, USA, for USD 115M, about SEK 1.2 billion
Skanska has signed binding sale and purchase agreements (SPA) for the sale of its entire ownership, corresponding to 32 percent, of LaGuardia Gateway Partners LLC in New York, NY, USA, for USD 115M, about SEK 1.2 billion. The buyers are existing partners MI LaGuardia CTB, LLC and Vantage Airport Group (New York) LLC. The transaction is expected to be recorded during the fourth quarter of 2023 and will be allocated to the Central stream.
Completion of the sale is conditional on regulatory approval and customary terms and conditions. The final purchase price may be adjusted by transaction costs and other items. Skanska will confirm the divestment and final amount in a separate announcement.
LaGuardia Gateway Partners is responsible for the private investment, development, and operation of the entirely reconstructed Terminal B at LaGuardia Airport as part of a public-private partnership with the Port Authority of New York and New Jersey.
Project engineering and construction of the terminal was conducted through a design-build joint venture led by Skanska and was completed in July 2022.
LaGuardia Airport Terminal B is the first airport project in the world to receive LEED v4 Gold certification for building design and construction. It also received Envision certification and won several distinctions, including “Best Airport” from UNESCO’s Prix Versailles and “World’s Best New Airport Terminal” from Sky Trax. In addition, it received the first 5-star rating of an airport terminal in North America.