BAA sells Edinburgh airport for $1.3 billion
LONDON — Airport operator BAA Ltd. says it has agreed to sell Edinburgh Airport to Global Infrastructure Partners for $1.3 billion.
The sale announced Monday complies with an order by the Competition Commission, the U.K.’s antitrust watchdog, that BAA dispose of either its Edinburgh or Glasgow airport.
BAA, which owns Heathrow Airport, sold Gatwick Airport to Global Infrastructure Partners for $2.4 billionin 2009 but has yet to dispose of Stansted Airport, which also serves London. BAA’s appeal of the order to sell Stansted was rejected in February.
BAA is owned by a consortium led by Spanish infrastructure group Ferrovial.
Global Infrastructure Partners also owns London City Airport.
GM to add 600 dealerships to its network in China
BEIJING — General Motors Co. Chairman Dan Akerson says the automaker plans to open 600 new dealerships in China and add assembly lines despite a slowdown in sales growth.
Mr. Akerson said Monday during the Beijing auto show that GM believes in the “strength of the Chinese market.”
China is the world’s biggest auto market by vehicles sold but sales growth slowed from 35 percent in 2010 to just 2 percent in the latest quarter. Demand has been blunted by government credit and investment controls aimed at slowing an overheated economy.
Mr. Akerson said GM will expand its dealer network from 2,900 last year to 3,500 by the end of this year.
Mr. Akerson said GM also plans to nearly double its production capacity in China to 5 million cars a year by 2016.
• From wire dispatches and staff reports