Slaughter & May Guides PE Fund's £807M BAA Airport Buy

Law360, New York (April 23, 2012, 8:00 PM EDT) -- The U.K.'s BAA Airports Ltd. inked a deal Monday to sell Edinburgh Airport for £807.2 million ($1.3 billion) to private fund manager Global Infrastructure Partners, in line with a court order to unload three airports in the name of competition conditions.

The cash deal, which is expected to close by the end of May, gives GIP full ownership of the Scottish airport, which served 9.3 million passengers last year and raked in £48.3 million in unadjusted earnings, according to the companies.

The landmark deal represents the...
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