Richard Branson, the founder of Virgin Group (Virgin Atlantic Airlines), is moving to buy London’s Gatwick Airport.
Currently, BAA Ltd. owns Gatwick and Heathrow. The Competition Commission, a government entity, recommended BAA sell Gatwick in order to promote more market competition. Its asking price is $5.4 billion.
Richard Branson can’t swing the deal alone because he is only worth $2.8 billion, so he’s looking to the Saudi royalty to go in on the deal with him.
Billion-Dollar Airport Deals
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