Airports operator BAA today agreed to sell Edinburgh airport to investment group Global Infrastructure Partners (GIP ) for £807.2 million.
GIP, which is backed by Credit Suisse and General Electric, is buying the airport after BAA, owned by Spain’s Ferrovial, was ordered by the Competition Commission to sell either Glasgow or Edinburgh airport.
BAA last year chose to sell Edinburgh airport after Britain's Competition Commission ordered it to dispose of one of its Scottish airports.
The regulator also required BAA to sell Gatwick, which it did in 2009, as part of a drive to loosen the firm's grip on the sector.
BAA has also been ordered to sell London Stansted, leaving it with the capital's main Heathrow hub, as well as Southampton in the south of England and Glasgow and Aberdeen airports in Scotland.
JP Morgan Asset Management led a consortium including Incheon, South Korea's airport authority and U.S. teachers' pension fund TIAA-Cref. However, TIAA-Cref pulled out earlier this month.
