Newspaper article International New York Times

Canadian-Led Group to Buy London City Airport

Newspaper article International New York Times

Canadian-Led Group to Buy London City Airport

Article excerpt

The group was said to have agreed to pay $2.8 billion for the company that operates the airport, which is close to the center of London.

A consortium of investors led by the Ontario Teachers' Pension Plan said on Friday that it had agreed to buy the operator of London City Airport, which is favored by the financial industry because of its proximity to the center of the British capital.

The airport, which handled flights for 4.3 million passengers in 2015, is relatively close to the City of London, the traditional home of London's financial community, and to Canary Wharf, where many of the world's biggest banks have their London offices.

Terms of the transaction were not disclosed, but a person with knowledge of the discussions, who was not authorized to discuss the matter publicly and who spoke on the condition of anonymity, said the purchase price was more than 2 billion pounds, or about $2. …

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