Middle Eastern investor eyes BAA airports
31.08.08
Mubadala Development Company, an Abu Dhabi state-owned investment group, is 'considering a tilt at airports run by BAA', the Independent reports. A bid would represent a return to BAA for Mubadala, which pitched for the company as part of a consortium led by the US investment bank Goldman Sachs two years ago. It lost out to the Spanish conglomerate Ferrovial.
Following the Competition Commission's preliminary findings earlier this month suggesting that airport sell-offs were necessary, Gatwick, Stansted and Glasgow are likely to be sold, although Ferrovial might issue a legal challenge to the commission's final decision, which is expected in the first quarter of next year.
Mubadala is known to have contacted former BAA staff last year to help develop potential bids, while transport bankers named the group as a probable participant in any upcoming auction, the newspaper reports. The Abu Dhabi giant's interests range from aerospace to healthcare. It is chaired by the Crown Prince of Abu Dhabi.
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