LONDON, Apr 24 (GCTL) - Global Infrastructure Partners, owner of London's City and Gatwick airports, is to buy Ferrovial-owned BAA's Edinburgh airport for GBP£807 million (USD$1.3 billion), cementing its position as a leading British airport operator.
GIP, an investment fund founded by Credit Suisse and General Electric, beat a consortium led by JP Morgan Asset Management's infrastructure fund.
The sale price is payable in full at closing of the deal, expected in May, said BAA. "Edinburgh Airport is a high quality infrastructure asset," said Adebayo Ogunlesi, chairman and managing partner of GIP, Reuters reported.
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