High flying Abu Dhabi lands stake in Gatwick Airport

Kyrgyzstan News.Net
Friday 5th February, 2010

The Abu Dhabi-owned investment fund, the largest sovereign wealth fund in the world, has bought a share of Gatwick Airport in London.

Gatwick, the major alternative to Heathrow Airport, was bought last year by Global Infrastructure Partners for 1.5 billion pounds.

On Friday there was no official announcement by Global or by Abu Dhabi on the size of the stake or the consideration.

Some news media quoted insiders as saying the stake was 15%, and the cost 125 million pounds.

Sovereign wealth funds have been buying up assets in the current depressed climate. Just as the Abu Dhabi Investment Authority has been scouring the UK and U.S. for deals, China co-incidently has recently had a delegation in Dubai looking to add to its holdings.

Earlier this week the South Korean National Pension Service said it was considering taking a 12% interest in Gatwick for around 100 million pounds. It is not known whether South Korea's proposed deal is in addition to that transacted by Abu Dhabi.

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