Singapore’s GIC sells shares in Beijing airport

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Singapore's sovereign investment fund GIC has sold an 8.8% stake in Beijing Capital International Airport to Hong Kong conglomerate NWS Holdings.

GIC sold 383 million "H" shares in the airport at a price of HK$6.15 (79 cents) per share, amounting to a total of HK$2.36 billion.

The acquisition is NWS’s first investment in airport assets and has made it the second-largest shareholder in the airport.

NWS has other investments in the ports, energy, infrastructure and facilities management sectors.