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 London-based 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 European headquarters in Manchester.