American International Group (AIG), the stricken U.S. insurance group, has agreed to sell part of its minority interest in London's City Airport to its joint-venture partner, Reuters quoted Britain's Sunday Telegraph as reporting. AIG will sell a 25 percent stake in the airport, the fastest-growing in Britain, for about 250 million pounds ($460 million) to Global Infrastructure Partners (GIP), the newspaper said. GIP and AIG Financial Products Corp, the arm of AIG which participated in the deal, paid just under 750 million pounds for the airport in December 2006, since when passenger numbers have soared and profit has almost doubled.
