Australian investor to fund MAG's Stansted bid
11th September 2012
MANCHESTER Airport Group has confirmed it has agreed to sell a 35% stake to an Australian investor if it launches a bid for Stansted.A deal with Industry Funds Management, which TheBusinessDesk.com understands could raise £1bn to fund the acquisition, would mark the airport's first move out of public control.At present it is owned by the 10 local authorities of Greater Manchester, with Manchester holding 55% and others 5% each.Under the terms of the deal Manchester's stake would drop to 35% and the other nine authorities woul......for the full story register now for free or login below...
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