Five in the running to buy £2bn London City airport

Five in the running to buy £2bn London City airport

London City airport has attracted the attention of five potential buyers including Asia’s richest man, according to reports.

The east London airport was put up for sale by owners Global Infrastructure Partners in August for a reported £2 billion, a figure that has prompted concerns from BA that charges will be increased.

Today the five suitors vying to buy the airport have been revealed, including Li Ka-Ching, the Hong Kong billionaire who controls Cheung Kong Infrastructure Holdings (CKI).

Asia’s richest man is said to be up against four other interested parties shortlisted by Credit Suisse, the investment bank that is handling the sale. A deadline for offers is said to be looming this week.

According to the Telegraph a consortium made up of sovereign wealth fund the Kuwait Investment Authority, Canadian funds Borealis Infrastructure, AIMCo and Ontario Teachers’ Pension Plan, and British investor Hermes is also in the running, as is Chinese airlines owner HNA.

GIP bought the airport from Irish entrepreneur Dermot Desmond for about £750m ten years ago.

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