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Adia buys stake in Gatwick Airport
posted on 07/02/2010: 104 views
Abu Dhabi Investment Authority (Adia) has bought a minority stake in London's second biggest airport, Gatwick. A spokesperson of the sovereign wealth fund confirmed the deal to ‘Gulf News' yesterday, without giving further details on the size of the transaction or the amount paid.
According to British daily The Times, Adia has purchased 15 per cent of Gatwick airport for a price of US$196 million as a long-term commitment. However, the figures were not confirmed by Adia.
Adia bought the stake from Global Infrastructure Partners (GIP), an infrastructure fund set up by Credit Suisse and General Electric.
GIP will remain the majority stakeholder of Gatwick Airport. Two days ago, South Korea's National Pension Service said it planned to buy a 12 per cent stake in Gatwick for around US$157 million. – Gulf News
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