7 SEPTEMBER 2015
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German insurer Allianz has joined Borealis Infrastructure, which manages investments for Canada's Ontario Municipal Employees Retirement Systems, to explore the acquisition London City Airport, according to a person familiar with the process. The Sunday Times also reports an interest from the Italian Benetton family.
"Allianz is looking at a bid for the City Airport, and they know Borealis very well from other bids so it's a logical step for teaming up here," the person told Reuters news agency.
The Telegraph earlier this month said that another Canadian pension fund, Ontario Teachers' Pension Plan, has partnered with the sovereign wealth fund of Kuwait and Hermes Investment Management to submit an offer for the airport.
Australia's Macquarie Group is also thought to be looking at a consortium bid, the newspaper has reported.
Earlier this month, London City Airport's owners picked Credit Suisse to advise them on a potential sale, which could value the business at up to £2bn (US$3.08bn). The airport is owned 75% by US fund Global Infrastructure Partners, with the balance held by another American fund Oaktree Capital. www.londoncityairport.com
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