Abu Dhabi is part of a joint venture
making a bid for a 50 per cent stake in
Manchester airport, according to a report
in the UK’s Sunday Times newspaper. The
Manchester Airport Group plans to raise
about US$1.6 billion by selling a 50 per
cent stake to fund its bid to buy Londonbased
Stansted airport.
Among those interested in the stake
are Australia-based Industry Funds
Management, Hong-Kong-based Cheung
Kong Holdings and a joint venture
between UK-based investment firm
3i Infrastructure and the Abu Dhabi
Investment Authority, the report said. The
sale, the report said, would take place only
if Manchester was successful in getting
Stansted that the BAA Airports could
sell later this year, the report added. To
top it all, the Abu Dhabi-based Etihad
Airways has planned to open its