BAA say talking to ‘multiple bidders’ about Gatwick
20.05.09
BAA said today that it is still talking to `multiple bidders' about the sale of Gatwick Airport, after reports yesterday that Global Infrastructure Partners (GIP) had pulled out after its bid either lapsed on Sunday, or was rejected by BAA for being too low (depending on which press report you read).
As a bid from the Citibank lead Lysander group was rejected last week, if GIP have pulled out, it would leave the Manchester Airports Group lead consortium as the only bidder left for the London airport. However, a BAA spokesman insisted it was still in a competitive bidding situation. He said: ‘The sale process goes on. We prefer to do the negations in private.’
GIP, a fund started by Credit Suisse and General Electric which already owns London City Airport, refused to comment on the bid's status today. Given the problems with the sale, the apparent low bids and BAA's recent appeal against the Competition Commission's sale order, we wonder whether BAA will complete that sale at this point at all.
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