Sale of Gatwick fetches $2.5 billion

BAA, Britain's principal airport operator, agreed to sell London's Gatwick Airport to Global Infrastructure Partners, the consortium that owns London's City Airport, for approximately $2.5 billion.

The agreement followed a ruling from the U.K.'s Competition Commission that BAA, which operates Heathrow and six other U.K. airports, must divest three of its airport holdings.

But BAA noted that it disclosed plans to relinquish Gatwick before that review was completed.

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