Gatwick bidders given an extra month
13.03.09
The remaining bidders for Gatwick Airport have been given an extra month to their finalise offers for the airport. They must must now submit bids by the end of April, having completed their due dilligence.
BAA said in s statement: ‘Following a request from bidders we have agreed a new deadline for final bids for the end of April. This extension will allow bidders more time to finalise detailed due diligence and financing arrangements.'
There are reported to be three remaining bidders for Britain's second busiest airport, after at least two others pulled out of the auction. They are Global Infrastructure Partners (GIP), a joint venture between General Electric and Credit Suisse, which owns London City Airport; Citigroup unit Citi Infrastructure Investors, with Vancouver Airport Services and John Hancock Life Insurance Company, bidding jointly as Lysander Gatwick Investment Group; and Manchester Airports Group with Canada's Borealis.
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