Morrison and Co-led group gives up on Stansted Airport race over funding risks, report

Wed, 09 Jan 2013

Jan. 10 (BusinessDesk) - An investment consortium led by Wellington-based investment bank Morrison & Co has pulled out of the race to buy Stansted Airport in the UK after failing to get bank funding for the deal, according to a British media report. The group's bankers balked at the funding risks, which required bidders having to stump up with 50 percent of the deal in equity and the remainder in expensive investment grade debt, the Daily Telegraph reported, citing unnamed sources. The airport is Britain's third biggest, and derives about 70...

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