Gatwick sale talks progressing
08.10.09
BAA has intensified talks on the sale of Gatwick Airport to Global Infrastructure Partners (GIP) - the Credit Suisse / GE lead fund - ahead of an antitrust ruling on the break up of its assets, Bloomberg reports, quoting 'two people close to the negotiations'.
The Competition Commission’s arbitration tribunal will hear evidence starting October 19 on whether BAA should be forced to sell three of its seven UK airports. This is said to have refocused BAA’s efforts to dispose of Gatwick at its own pace, according to 'the people, who declined to be identified because the talks are private.' Bloomberg says that a breakthrough before the start of the tribunal’s deliberations is unlikely.
BAA's parent, Ferrovial, said that it is in talks with ‘a number of bidders’ for Gatwick Airport and no transaction has been agreed with any party. In a statement today it said that it is not working to any specific deadline.
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