TBI hires Buchanan for entire financial remit

UK airports and property group TBI - which has bought a controlling stake in London Luton Airport for up to pounds 82m - has turned to City PR experts Buchanan Communications to oversee all its financial PR.

UK airports and property group TBI - which has bought a controlling stake in London Luton Airport for up to pounds 82m - has turned to City PR experts Buchanan Communications to oversee all its financial PR.

TBI drafted in the Buchanan team last week amid its London Luton plans and current deal to sell off all its remaining Australian airport interests to a consortium led by BAA for around pounds 30m.

Buchanan replaces incumbent Holborn PR following a competitive pitch.

Agency director Charles Ryland heads the retainer brief, leading a team of four.

He reports to TBI chief executive Keith Brooks and finance director Caroline Price.

'They want an active full financial PR service both with PR and the analyst research community,' said Ryland.

The brief also includes financial calendar results work.

TBI - which already held a 25 per cent share in London Luton - agreed to buy a further 65 per cent stake from Barclays Private Equity and Barclays UK Infrastructure, essentially a deal which gives TBI control of the business.

Alongside this deal, TBI is also in the proceeds of selling its stake in Perth International Airport and three Northern Territory airports, including Darwin, to the BAA consortium - formed with the Australian Infrastructure Fund and Utilities Trust of Australia.

Ryland said: 'The key messages are that TBI, which has a lot of experience as a regional operator, is looking at controlling London Luton and seeing its peripheral interests sold off.'



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