DrKW is advising TBI, the UK's second biggest airports operator, on its £551m ($1bn) agreed sale to Abertis, the Spanish infrastructure company, after a three-year wait.

Airport Concessions and Development Limited, a bid vehicle 90% owned by Abertis, is offering 92.5p a share for TBI, which owns eight airports worldwide, including Luton in the UK and Stockholm Skavasta in Sweden.