Financial Times FT.com

BAA sells Gatwick for £1.5bn

By Pilita Clark and Mark Mulligan

Published: October 20 2009 23:25 | Last updated: October 21 2009 22:33

Ferrovial has sold London’s second-largest airport for £1.5bn, as much as 25 per cent less than it had suggested Gatwick would fetch when it went up for sale just over a year ago.

Global Infrastructure Partners, the fund backed by Credit Suisse and General Electric which on Wednesday bought Gatwick, has promised to upgrade services at the airport.

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