Abu Dhabi secures 15% stake in Gatwick Airport

05/02/2010 - Northern Emirates Property & Investment News
Abu Dhabi secures 15% stake in Gatwick Airport
Posted by Neil King

The Abu Dhabi Investment Authority (ADIA) has bought a 15 per cent stake in the UK's Gatwick Airport.

ADIA's acquisition comes after the airport was sold late last year to the Global Infrastructure Partners investment fund - the owners of London City Airport - for just over £1.5 billion, the Financial Times (FT) reported.

A spokesman for Global said that the firm welcomed ADIA as a long-term investor but declined to say exactly how much had been paid for the stake.

Passenger numbers at Gatwick, the second busiest airport in the UK, rose for a third consecutive month in December, the FT noted. This helped to reduce its decline for the year to 5.3 per cent.

In addition, the newspaper said that ADIA's acquisition came as South Korea's National Pension Service, the fifth biggest pension fund in the world, agreed to take a 12 per cent stake in Gatwick.

ADIA has been established for over 30 years and is a leading global institutional investor. It states that its mission is to secure and maintain the current and future prosperity of Abu Dhabi by prudently investing the emirate's assets.