Investor duo drop out of airport deal

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TWO groups of investors have dropped out of the £475 million contest to purchase Edinburgh Airport.

The sale by operator BAA attracted four indicative offers last month, but a consortium led by UK-listed 3i has withdrawn from the process, followed closely by US group Carlyle.

This leaves two bidders – Global Infrastructure Partners, which bought Gatwick Airport from BAA three years ago, and JP Morgan’s infrastructure fund.

Regulators had demanded the sale of either Edinburgh or Glasgow Airport last year, with BAA opting for the former.