US buyout house TPG Capital has emerged as the sole private equity bidder for Stansted, London’s third-largest airport.
The £1.3bn asset was put up for sale by owner BAA earlier this year after it lost a three-year battle with the Competition Commission, which ordered it to sell three of its airports.
TPG faces a contest with Australian investment bank Macquarie and a consortium comprising Manchester Airports Group and Industry Funds Management, according to a report in the Financial Times.
The move brings TPG back to its roots, after buying out Continental Airlines from bankruptcy in 1993.
BAA and its controlling stakeholder Ferrovial are expected to provide bidders with more details about progress later this week, the FT added, saying interested parties would have to prove their experience in airport operations.
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