Carlyle sells stake in JFK airport concessionaire to Spain’s Ferrovial

Spanish infrastructure company Ferrovial SA said Monday it agreed to pay $1.14 billion to Carlyle Group’s global infrastructure fund for a 51% stake in the concessionaire for the new Terminal 1 at JFK International Airport in New York City. Ferrovial said the concessionaire has been named to design, build and operate the new Terminal 1 until 2060. The Terminal 1 project includes the former Terminals 1, 2 and 3 at the airport. Ferrovial plans to provide additional details to analysts on June 9. Shares of Carlyle Group are down 27.6% so far in 2022, compared to a loss of 13.8% by the S&P 500 .

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.