Ferrovial Airports has entered an exclusivity agreement with Carlyle Group to negotiate the purchase of its stake in New Terminal One (NTO), a consortium in charge of designing, constructing and running the new terminal at John F Kennedy (JFK) International Airport in New York, US. 

A private consortium, NTO includes Carlyle, JLC Infrastructure and Ullico.

The new terminal will replace the outdated Terminal 1, 2 and the former Terminal 3 that was demolished in 2013.

Carlyle holds a 51% stake in NTO and if an agreement is signed between the two parties, Ferrovial Airports would acquire 96% of the said stake.

Although Ferrovial Airports did not reveal details of the transaction, Bloomberg reported citing people familiar with the matter that the company plans to invest more than $1bn in Carlyle Group.

Completion of the deal awaits the clearance of the Port Authority of New York and New Jersey.