Chicago Stalls Midway Airport Sale
Join Our Newsletter - Get important industry news and analysis sent to your inbox – sign up to our e-Newsletter here
X

Chicago Stalls Midway Airport Sale

22 Apr 2009

Chicago has postponed its sale of Midway Airport after the consortium looking to buy it failed to raise financing, the Wall Street Journal has reported. The consortium comprising of Citi Infrastructure Investors, JohnHancock Life Insurance and Vancouver Airport Services has alre

Chicago has postponed its sale of Midway Airport after the consortium looking to buy it failed to raise financing, the Wall Street Journal has reported.

The consortium comprising of Citi Infrastructure Investors, JohnHancock Life Insurance and Vancouver Airport Services has already paid a non-returnable $126m deposit to the city, according to the paper.

It is thought that the consortium – known as the Midway Group – will compete with bidders for London’s £2bn sale of Gatwick airport, enforced by the UK’s Competition Commission.