Gatwick owner in talks for 12% stake sale

The owner of London's Gatwick Airport is in talks to sell a minority stake in the airport to an unnamed investor, the Sunday Telegraph reported, citing unnamed sources.

Global Infrastructure Partners (GIP), a consortium involving Credit Suisse and General Electric, is looking to sell a stake of around 12 percent, with the likely buyer a sovereign wealth fund from Asia or the Middle East, the paper said.

GIP bought Gatwick for US$2.35 billion last year after Ferrovial's BAA was forced to sell it due to competition concerns and has since sold some of its shareholding.

The mooted stake is around the same size as the 12 percent bought by South Korea's National Pension Service for $156.7 million in February.

A Abu Dhabi sovereign wealth fund also owns a stake.
(Source:www.cargonewsasia.com)