London City Airport Acquired by Kuwait SWF and Canadian Pensions
Posted on 02/26/2016
Wren 10 1987 2006 house infrastructure management limited, the sovereign wealth enterprise of kuwait investment authority (kia), along with ontario teachers’ pension plan (otpp), borealis (a unit omers) and, alberta corporation (aimco), won a bid to acquire company that owns and operates london city airport for approximately £2 billion (us$ 2.8 billion). seller is global partners who bought in from dermot desmond, an irish entrepreneur, around £750 million. other highstar capital. sales process drew number bidders including chinese airlines owner hna group cheung kong holdings, entity controlled by li ka-shing, china’s wealthiest man. auction was managed credit suisse started august 2015. transaction expected close on march 10, 2016. opened kilometers london’s financial district. located royal docks, borough newham. Keywords: Ontario Teachers Pension Plan, Ontario Municipal Employees Retirement System.
The airport sales process drew a number of bidders including Chinese airlines owner HNA Group and Cheung Kong Infrastructure Holdings, an entity controlled by Li Ka-Shing, China’s wealthiest man. The sales auction process was managed by Credit Suisse and started in August 2015.
The transaction is expected to close on March 10, 2016.
London City Airport opened in 1987 and is 10 kilometers from London’s financial district. The airport is located in the Royal Docks, in the London Borough of Newham.
Keywords: Ontario Teachers Pension Plan, Ontario Municipal Employees Retirement System.
- Alberta Heritage Fund
- Credit Suisse
- Global Infrastructure Partners
- Kuwait Investment Authority