GIP to acquire AIG's stake in London City AirportGlobal Infrastructure Partners has agreed to acquire AIG-Financial Products' 50 per cent stake in London City Airport. Financial details were not disclosed but it was reported that the deal was worth approximately £250m.
This acquisition will result in GIP being the sole owner of the business.
GIP and AIG jointly acquired the airport in 2006, each taking a 50 per cent stake.
GIP targets investments in single assets and portfolios of assets and companies in power and utilities, natural resources infrastructure, air transport infrastructure, ports, rail, water distribution and treatment and waste management.
In May of this year, GIP closed its inaugural fund on $5.64bn.
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Private Equity News» By News Type» Deal News
Private Equity News» By Region» Europe» Western Europe» United Kingdom
