Pension funds eye UK airports
Pension funds could be interested in acquiring Gatwick, Stansted and Edinburgh airports, IPE Real Estate reports. The Competition Commission said the British Airport Authority must sell the airports to enhance competition and improve its services across U.K. airports. The Commission is planning to sell Glasgow airport as an alternative to Edinburgh’s airport and has suggested that the government make changes to boost airport regulation and give the regulator more authority to intervene on issues such as performance and financing.
The BAA is understood to have sent confidential documents to potential bidders for Gatwick Airport and aims to sell it by early 2009. Californian pension funds, the Manchester Airports Group and the Vancouver Airports Authority are reported to be bidding for Gatwick airport. In early December, the Ontario Teachers Pension Fund and 3i were at work on a joint bid worth up to GBP1.5 billion.
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