Final Bid Deadline For Edinburgh Airport April 13 - Sources

02/22/2012| 11:23am US/Eastern

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By Marietta Cauchi and Jessica Hodgson

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Final binding bids for Edinburgh Airport are due by Friday, April 13 with the field of potential buyers unchanged from an initial round earlier this month, people familiar with the situation told Dow Jones Newswires on Wednesday.

Scotland's largest airport, which is owned by U.K. airports operator BAA, is expected to fetch anything between GBP400 million and GBP600 million, people familiar with the process say.

Bids are expected from a number of infrastructure and private-equity funds.

Carlyle Group LP is part of a consortium preparing a joint bid with Noble Grossart, an Edinburgh-based merchant bank, which is approaching other Scottish investors to take part.

3i Group PLC (>> 3i Group plc) is working with Universities Superannuation Scheme and fund manager M&G to submit a joint bid, two people said.

Global Infrastructure Partners LLC, which owns Gatwick Airport and several infrastructure funds, will submit an individual bid as will JPMorgan Chase (>> JPMorgan Chase & Co.) through its global asset management business, other people added.

BAA announced its intention to dispose of Edinburgh Airport in October 2011, after U.K. antitrust body the Competition Commission decided it should sell one of its Scottish airports.

BAA sold Gatwick Airport in late 2009 to GIP for GBP1.5 billion, which the Competition Commission said has already brought benefits.

Spanish construction group Ferrovial SA (>> Ferrovial SA) has been selling down its stake in BAA over the past year or so and now holds 49.99% in the airport operator.

BNP Paribas SA (>> BNP PARIBAS) and Citigroup Inc. (>> Citigroup Inc.) are handling the sale.

-By Marietta Cauchi, Dow Jones Newswires; +44 207 842 9241; marietta.cauchi@dowjones.com

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