EU clear Gatwick sale
26.11.09
The European Commission gave private equity fund Global Infrastructure Partners (GIP), controlled by Credit Suisse and GE that already owns London City Airport, permission from to buy Gatwick Airport today. BAA, under pressure to reduce its dominance in UK airports and cut debt, had previously agreed to sell Gatwick for a smaller-than-expected £1.51 billion. The deal is now expected to be completed early next month.
The Commission said in a statement that the deal would not hamper competition. It said: 'Examination of the proposed transaction showed that the horizontal overlaps between the activities of London City Airport and Gatwick Airport were limited, therefore, the transaction would raise no competition concerns.'
Add to: del.icio.us | Digg it | Newsvine | NowPublic | Reddit
To book gatwick airport hotel or gatwick airport car park at the lowest price, click on these links to two great gatwick parking and gatwick hotels price comparison pages.
