Manchester Airports Group (MAG) has finalized the purchase of London Stansted Airport. Under the £1.5 billion ($2.38 billion) deal, first announced in January, operation of the airport will transfer from Heathrow Airport Ltd. to MAG, which also owns Bournemouth, East Midlands and Manchester airports. The deal was completed on Feb. 28. As part of the sale, investment fund Industry Funds Management (IFM) has taken a 35.5% equity interest in the enlarged MAG company, which is privately ...

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