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Bids in for Gatwick airport

Airport operator BAA received at least six bids for London Gatwick airport by yesterday's deadline for first round bids, according to reports.

The reports indicate that the six bidders are:

- A consortium of Canadian pension funds comprising Ontario Teachers and Canada Pension Plan along with 3i Infrastructure

- Global Infrastructure Partners, who also own London City airport

- Gatwick Future Partnership led by Babcock & Brown European Infrastructure Fund and RREEF, the Deutsche Bank infrastructure fund.

- Lysander Gatwick Investmen, a consortium consisting of Citi Infrastructure Investors, Canada's Vancouver Airport Services and John Hancock Life Insurance of the US, who also own Chicago Midway airport

- Hochtief, one of Germany's largest construction groups

- Manchester Airport Group with Borealis, the Canadian infrastructure fund

BAA opened the bidding for Gatwick last year shortly after the Competition Commission announced its intention to break up BAA's monopoly of seven airports.

BAA was hoping to attract offers of around £2bn, but reports indicate that bids are morelikely to be in the range of £1.7 to £1.8bn

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