Confusion reigns over troubled Gatwick sale
Friday 17 July 2009
The Gatwick sale descended into farce yesterday as airport-owner BAA denied claims that the two remaining bidders had pulled out of the £1.5bn race.
Sources claim both Manchester Airports Group (MAG) and the Global Infrastructure Partners (GIP) consortium have walked away. But a spokesman for BAA said yesterday: "There are multiple bidders still in the process."
A third interested party - the Lysander consortium led by Citigroup - was kicked out of the bidding in May, allegedly for putting too low a price tag on the airport. But both the MAG group, which included the Greater Manchester Pension Fund and Canada’s Borealis, and GIP, a joint venture between Credit Suisse and General Electric, were thought to be pitching up to £1.4bn, still lower than the £1.5bn regulated asset value.
BAA put Gatwick up for sale last autumn to pre-empt its forced sale at the behest of the Competition Commission. In February, the Commission ruled the company must sell both Gatwick and Stanstead, and one of either Edinburgh or Glasgow airports, to redress its monopolistic position.
- 1 Belgium fan Axelle Despiegelaere lands L'Oreal campaign after World Cup viral photo
- 2 Why I'm on the brink of burning my Israeli passport
- 4 Blackest is the new black: Scientists have developed a material so dark that you can't see it...
- 5 Iraq crisis: How Saudi Arabia helped Isis take over the north of the country
Scottish independence: Scots of Corby take matters into their own hands in mock referendum - and deliver overwhelming verdict
Protesters fight to save Arturo, the polar bear sweltering in baking hot zoo
Fry ‘criticises Operation Yewtree in dinner party rant’ calling for tougher laws to deter false sex abuse allegations
Supermoon 2014 in pictures: Moon appeared bigger and brighter at the weekend
Saharan remains may be evidence of first race war, 13,000 years ago
Sustained immigration has not harmed Britons' employment, say government advisers
War is war: Why I stand with Israel
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
Socialist Worker called to apologise over ‘vile’ article saying Eton schoolboy Horatio Chapple's death is ‘reason to save the polar bears’
Emergency data law: David Cameron plots to bring back snoopers’ charter
NUT strike: David Cameron announces crackdown on strike action ahead of mass industrial action
iJobs Money & Business
£20000 - £40000 per annum: Deerfoot IT Resources Limited: Sales Executive - Ce...
£35000 - £40000 per annum + Benefits: Ashdown Group: HR Advisor - 6 Months Fix...
£70000 per annum: Harrington Starr: Information Security Manager (ISO 27001, A...
£75000 - £85000 per annum + ex bens: Deerfoot IT Resources Limited: Biztalk Te...