CPPIB looks to buy stake worth $3.92 bln in Gatwick Airport: Reuters

Canada Pension Plan Investment Board (CPPIB) is looking to buy part of a stake in Gatwick Airport that could be worth more than 3 billion pounds (US$3.92 billion), Sky News reported on Friday.

CPPIB is said to be part of a group of investors proposing to buy out Global Infrastructure Partners’ (GIP) 42 percent stake in the second-busiest airport in Britain, the report said.

The Canadian pension fund would invest “hundreds of millions of pounds” in the airport, if the deal gets finalized, insiders told Sky News.

CPPIB declined to comment on the report. GIP did not immediately respond to Reuters request for comment.

(Reporting by Ishita Chigilli Palli in Bengaluru, editing by Louise Heavens)

(This story has been edited by Kirk Falconer, editor of PE Hub Canada)