UK Greenlights £1.5B Airport Sale, Ending Mandated Deals

Law360, New York (January 22, 2013, 3:41 PM EST) -- The U.K.'s Competition Commission on Monday approved Heathrow Airport Holdings Ltd.'s plan to sell Stansted Airport to Manchester Airport Group PLC for £1.5 billion ($2.4 billion), the last of several deals the regulator had mandated in order to diversify airport ownership amid increasing consolidation.

With the cash deal, expected to be finalized in February, Heathrow closes out a trio of asset sales mandated by the regulator. Through the sales, which trace back to 2009, the company reaped a combined  £3.5 billion, according to the commission. Representatives...
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