Abu Dhabi buys 15% stake in Gatwick
05.02.10
The Abu Dhabi Investment Authority (ADIA) is to buy a 15% stake in Gatwick Airport for £125m, the Times reports, as the airport’s new owner seeks to bring in additional investors to securitise its investment.
Global Infrastructure Partners (GIP), the infrastructure fund controlled by Credit Suisse and GE, acquired Gatwick for £1.51 billion last year and said at the time that it would seek additional investors, but will retain management control of the airport, as it did with previous acquisition London City Airport.
The purchase by ADIA, the world’s largest sovereign wealth fund, comes days after the South Korean National Pension Service announced that it had bought a 12% stake in Gatwick for £100 million. GIP is talking to several other potential investors, the Times reports.
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