(MENAFN) Three international investment firms; Wren House Infrastructure, Canadian Ontario Teachers' Pension Plan, and Hermes have joined forces to make an offer for the London City Airport, which has been valued at USD3 billion.
Global Infrastructure Partners (GIP), which owns 75 percent of London City, bought the airport nine years ago for around USD1.1 billion, Oaktree Capital owns the remaining 25 percent of the airport and has agreed to the sale.
London City is close to Canary Wharf and is a popular airport for workers in the financial services sector. It expects to carry about 4.1 million passengers this year, up from 3.7m in 2013, and it's targeting 6 million travelers a year by 2023.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.