Report: Citi & Vancouver Could Bid for Gatwick Airport

The infrastructure fund of Citigroup and the Vancouver Airports Authority are planning a joint £2 billion (US$3.2bn) bid for Gatwick Airport, The Sunday Times reported without citing sources.

Operator BAA put the London airport up for sale after Britain’s Competition Commission said in a provisional ruling in August that the unit of Spain’s Ferrovial must sell three of its seven UK airports.

A string of potential bidders, including airline Virgin Atlantic VA.UL, German builder Hochtief, Frankfurt airport operator Fraport, Deutsche Bank’s infrastructure arm RREEF and Manchester Airports Group, have already expressed an interest.

BAA declined to comment on the report. Citigroup was not available for comment.

Source: Thomson Merger News