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Heavy competition expected at Edinburgh airport sale

The sale of Edinburgh airport is expected to see strong competition between rival bidders.

05 January 2012

Merger and acquisition advisors are likely to have been taken on by firms competing for the purchase of Edinburgh airport.

Reuters reported owner of the establishment - Spanish firm Ferrovial - could raise up to $900 million (£560 million) from the sale of the facility.

"Indicative offers will be expected by the end of February and the second phase short list, where the successful parties are given full access to due diligence, will be made a couple of months later," a source told the news provider.

It is expected Global Infrastructure Partners, which bought Gatwick from Ferrovial in 2009, will be up against other bidders both in the UK and abroad.

An insider told the online publication the base valuation of Edinburgh airport is around £450 million and the Spanish owner's aim to have completed the transaction by the end of the summer is "reasonable".

Ferrovial's share price had fallen by 0.4 per cent by 16:49 local time in France today (January 5th).

Posted by David Gleck

Source: Reuters, January 5th

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