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Citigroup bids for London City airportCitigroup bids for London City airport
Emily Pacey
29-Aug-2006
Ferrovial advisor Citigroup makes shortlist for London City airport
Citigroup, the bank which acted as advisor and broker to Ferrovial during its successful bid for BAA, has made it on to the shortlist of bidders for London City airport.The airport is expected to command about £650m, having grown in popularity since 1995, when passenger traffic topped 500,000 and owner Dermot Desmond bought it for £23m.
Other shortlisted bidders include Spanish construction firm-led consortium Sacyr Vallehermoso and American Insurance Group, another of the world's biggest financial groups. According to reports, a Goldmann Sachs-led consortium is among the favourites to win the bid. German company Hochtief, which owns stakes in Athens, Dusseldorf, Hamburg and Sydney airports, is also believed to be bidding.
London City Airport welcomed nearly 2m passengers in 2005, up by 16% on 2004.
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