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City Airport sale

LONDON City Airport is to be sold to a US consortium including insurance company AIG for an undisclosed amount. Although the sale sum has not been announced, reports suggested it could be £750 million.

The airport, in the Royal Docks, about 10 miles east of central London, will play a key role in the 2012 Olympics because of its proximity to the Games site in Stratford. "This transaction remains subject to EU merger clearance and is expected to close in November 2006."

From: London City Airport to be sold to Americans, Peter Law, This is Local London, 11th October 2006

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