BAA has agreed to sell Gatwick Airport to infrastructure fund Global Infrastructure Partners, owners of London City Airport, for £1.45bn. The price is below the value of the airport’s regulatory asset base of £1.575bn. A further £55m could be payable depending on future passenger numbers.
When the sale process started a year ago, after the Competition Commission ordered Gatwick, Stansted and either Glasgow or Edinburgh to be sold, BAA initially hoped Gatwick would fetch...
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