The acquisition of Gatwick Airport by Global Infrastructure Partners (GIP) has been approved by the European Commission under the EU Merger Regulations.
Gatwick Airport was sold to GIP after a ruling by the Competition Commission declared that BAA must sell the travel hub.
It is the UK’s second largest airport and joins London City Airport as part of GIP’s assets.
The private equity fund owns three-quarters of London City – which mainly offers short distance flights in comparison to Gatwick, which has a range of long-haul options.
Earlier this week, the board members for Gatwick were announced.
They include the chair Sir David Rowlands, GIP partners Michael McGhee and Bill Woodburn, former managing director of BAA International Andrew Jurenko and the former Bechtel partner James van Hoften.
Sir David Rowlands said an independent Gatwick had great opportunity to create competition in London.
"The new Board will work with Gatwick’s management team to drive Gatwick to a competitive future in its target market through more efficient operations and a relentless focus on customer service," he added.