![]() Calling it a "foolish price", he had feared that the high price tag could force its new owners to raise landing fees. The sale follows Willie Walsh, the chief executive of IAG, the parent company of British Airways (BA), expressing concerns over the £2bn valuation earlier this month. Some of the other suitors included Hong Kong billionaire Li Ka-Shing and HNA, the Chinese aviation company. ![]() ![]() In November 2015, GIP along with Credit Suisse, the Switzerland-based investment bank appointed for the sale of this airport, shortlisted the interested companies to a final list of five suitors of which this consortium was one. In August 2015, they put it up for sale, receiving interest from several companies. Global Infrastructure Partners (GIP), the American private equity company who sold this airport, had purchased it about 10 years ago from Irish entrepreneur Dermot Desmond for about £750m. At a price of £2bn (€2.5bn, $2.8bn), the new owners include the Kuwait Investment Authority, a state-owned sovereign fund Borealis Infrastructure, the Canadian pension fund AIMCo, an American investment management company Wren House, an infrastructure investment vehicle owned by the sovereign wealth fund of Kuwait and the Ontario Teachers' Pension Plan. ![]() The London City Airport has been sold to a large consortium. The winning consortium also includes Borealis, AIMCo and Wren House Reuters ![]()
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