BAA today announced that it has agreed to sell its 100% interest in Gatwick Airport Limited to an entity controlled by Global Infrastructure Partners, an investment fund backed by Credit Suisse Group AG and American conglomerate General Electric, for £1.51bn.
Of the sale price, £55m is conditional on future traffic performance and the buyer's future capital structure. The sale to GIP, the fund that owns London’s City airport, is also subject to clearance from European...
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