October 19, 2018 / 7:30 PM / 25 days ago

CPPIB looks to buy stake worth 3 billion pounds in Gatwick Airport: Sky News

FILE PHOTO: A passenger aircraft lands at Gatwick Airport in southern England, Britain, October 9, 2016. REUTERS/Toby Melville/File Photo

(Reuters) - The Canada Pension Plan Investment Board is looking to buy part of a stake in Gatwick airport that could be worth more than 3 billion pounds ($3.92 billion), Sky News reported on Friday.

CPPIB is said to be part of a group of investors proposing to buy out Global Infrastructure Partner’s (GIP) 42 percent stake in the second-busiest airport in Britain, the Sky News report said.

The Canadian pension fund would invest “hundreds of millions of pounds” in the airport, if the deal gets finalised, insiders told Sky News.

CPPIB declined to comment on the report. GIP did not immediately respond to Reuters request for comment.

Reporting by Ishita Chigilli Palli in Bengaluru, editing by Louise Heavens

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