Home » Abu Dhabi Investors »

|| Abu Dhabi Investors acquired 15% stake at Gatwick airport

adia gatwickAbu Dhabi investors of sovereign wealth fund Abu Dhabi Investment Authority (ADIA) had bought a 15% stake in Britain's Gatwick Airport.

Two sources close to the deal told Reuters that Adia would pay around $196 million for a 15 percent stake in Gatwick, confirming an earlier report in The Times newspaper.

They bought this stake from Global Infrastructure Partners (GIP) which acquired Gatwick last year for 1.5 billion pounds.

(To see more Abu Dhabi investors like ADIA check our investors directory)

The Bloomberg news release follows

Feb. 5 (Bloomberg) -- Global Infrastructure Partners, which bought London’s Gatwick Airport in December, said it will sell a stake in the airport to Abu Dhabi Investment Authority.

The New York-based private-equity firm will retain a controlling stake in the airport, a spokesman for GIP said by telephone yesterday, while declining to specify the size of the stake the fund is selling or the terms of the agreement. The investment is a 15 percent stake valued at about 125 million pounds ($197 million), the London-based Times reported, without attribution.

GIP welcomes the sovereign wealth fund “as a long-term investor,” the spokesman said. The press office of Abu Dhabi Investment Authority could not be reached outside of office hours.

The global recession caused airline traffic to slump last year, with carriers cutting capacity to match falling demand. GIP bought Gatwick for 1.51 billion pounds from Spanish builder Grupo Ferrovial SA and this week agreed to sell a 12 percent stake to the National Pension Service, Korea’s biggest investor.

The sale of the holding to National Pension Service was part of a continuing process, and GIP is likely to agree to further transactions while retaining a “controlling stake,” Gatwick said Feb. 2.

Passenger numbers at Gatwick, the U.K.’s second-busiest airport, increased for a third consecutive month in December, the airport said on Jan. 28, helping reduce the full-year decline to 5.3 percent.

Previous Post: 131 UAE private equity firms have $34 billion in capital
Next Post: Dubai investment firm acquired stake in California tech company

|| About Us

Established in 2007, DubaiBeat.com provides insight, analysis and research on Middle East investors.

We cover different asset class investors like private equity, venture capital, hedge funds and real estate investors from the Middle East and broader MENA region.

|| Subscribe

Copyright 2007-2017 DubaiBeat.com    Sitemap  |  Terms  |  Privacy Policy

Follow us: RSS Feed   Facebook    Twitter