The battle to own Aldeasa, the Spanish airport operator, looked like becoming a three-way fight today as Advent International, the US-based private equity firm launched a €651m bid.

Advent's €31 a share offer followed the rejection of a €29 bid from GEA, a Spanish consortium which includes local buy-out firm Mercapital.

Nicholas Lockley

Morgan Stanley

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Advent enters fight for Spanish airport

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