Gatwick sale ‘progressing, but not imminent’
15.10.09
BAA parent Ferrovial sees the sale of Gatwick Airport taking more time, although the process is advanced. The Spanish builder's managing director Inigo Meiras said: 'The Gatwick sale process is advanced but talks are ongoing. If you had asked me in July I would have said the same. I think it is possible it could take some time. There is more than one interested party.'
Last week newspapers quoted 'sources familiar with the deal' saying Ferrovial hoped to announce the sale before October 19 when a competition hearing is scheduled on the Competition Commission's decision that BAA should be forced to sell three airports, including Gatwick. A consortium led by Global Infrastructure Partners, which owns London City Airport, was said to be close to buying the airport.
Mr Meiras also said that Ferrovial expects BAA to make an over £1 billion bond issue in 2010. He will be appointed Ferrovial chief executive officer next week.
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