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GIP takes a chance on Gatwick Airport

24th October, 2009

Ferrovial’s purchase of British airport operator BAA has been an unmitigated disaster. The Spanish firm bought BAA, which owns seven airports, three years ago for £10.1 billion. Competition rules forced Ferrovial to offload three of those airports.

Last week it completed the sale of London’s Gatwick Airport (the second-biggest one) to Global Infrastructure Partners for £1.5 billion.

Ferrovial was reported to be looking for £2.5 billion initially. This was brought down...

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