City-owner tipped to buy Gatwick for £1.6bn
Monday, October 12, 2009 London City airport’s owners are said to be on the verge of buying Gatwick from BAA. According to reports, Global Infrastructure Partners – a joint venture between Credit Suisse, and General Electric – are favourites to close a deal with BAA and could pay just short of the CAA’s £1.6 billion valuation of the airport. A consortium lead by Manchester Airport Group and a Canadian infrastructure fund called Borealis are also thought to be in the running. BAA’s owners, Ferrovial, put Gatwick up for sale last September to pre-empt a Competition Commission ruling ordering it to sell of some of its seven UK airports. A source close to Ferrovial was quoted in today’s Financial Times, saying: “The question now is whether they [GIP] can secure financing and clear a few other hurdles." • BAA to appeal against break-up (19 May 2009) • Gatwick 'worth much less than £2bn' (23 Mar 2009) • Ferrovial 'could struggle with debts' (5 Jan 2009) |
RELATED ARTICLES Mexicana grounds flights 'indefinitely' > Ryanair brands BAA Unite members as 'selfish and underworked' > Crisis talks start to avert BAA strike > BAA hopes for quick deal with union to avoid strikes > Cameron: BAA strike would do 'nothing but harm' > BAA chief to headline WTM aviation programme > Heathrow numbers hit by ash and strikes > easyJet accepts rostering problems hit punctuality > EasyJet's punctuality slumps at Gatwick > Ash cloud hits BAA's passenger numbers > Queen's Speech could herald BAA break-up > BAA suffers 22% traffic fall due to ash cloud > Heathrow sees passenger numbers rise in March > Activists seize Heathrow ruling to challenge other planned airport expansions > BAA blames snow for falling figures > Edinburgh airport takes on Globespan's Duffy > Multi-million investment at Scottish airport > BAA appeal win throws Stansted lifeline > |
|||||
