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.

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


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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