25 MARCH 2019
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A bid by the French airports operator and infrastructure giant Vinci to take a majority stake in Gatwick has been rubber-stamped by the European Commission. The proposed deal was announced late last year (BTN 7 January).
US-based Global Infrastructure Partners (GIP) and its fellow Gatwick shareholders announced in December they had sold 50.01% of the airport to Vinci for £2.9bn under a deal that was proposed to be completed by 30 June.
See also Gatwick plans ahead in this issue.
The commission approved the acquisition under the European Merger Regulation, saying it gave “no cause for competition concerns due to the limited overlap between the other trading activities of the merging parties”.
A division of the Paris-based Vinci conglomerate, Vinci Airports, is behind the buy. The company develops, finances, builds and provides the everyday operation for 45 airports in France and elsewhere around the world.
GIP, which also owns Edinburgh Airport, will retain the remaining Gatwick shares.
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