Australia buys Gatwick stake

GATWICK Airport is now partially owned by the Australian government after its Future Fund bought a 17.2 per cent stake from US investment firm Global Infrastructure Partners (GIP).

GIP yesterday said the deal, thought to be worth around £150m, is part of its plan to syndicate ownership of the airport.

It has previously sold holdings to other state-backed investors including the Californian retirement fund, the South Korean pension plan and Abu Dhabi’s investment authority, leaving GIP with a 42 per cent stake.