CPPIB interested in majority stake in London airport

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Canada Pension Plan Investment Board (CPPIB) is reportedly part of a group of investors interested in acquiring Global Infrastructure Partners' (GIP) stake in London Gatwick Airport. GIP has owned a 42% stake in the airport, the second-largest in the UK, since 2009. It is currently the asset's largest shareholder.

CPPIB would participate in the acquisition in consortium with other pension and infrastructure funds. It is thought that GIP would retain a management contract if the sale of its equity stake is agreed. 

This would be CPPIB's first investment in the UK airport sector.

London Gatwick operates the world’s most efficient single runway, handling 45.6 million passengers, 97,045 metric tonnes of cargo and 282,000 aircraft movements in 2017. 56 airlines operate regularly at the airport. Minority shareholders include the South Korean National Pension Service, the Abu Dhabi Investment Authority (ADIA), the Californian state pension fund CalPERS and Future Fund, a sovereign wealth fund established by the Australian government.

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