* Ardian's stake expected to be worth
* Spanish airports operator Aena owns 51 pct
* Aena has right to buy out Ardian
By Clara Denina and Dasha Afanasieva
Ardian and Spanish airport operator Aena, whichowns the other 51 percent, bought the airport from toll operatorAbertis in 2013 for
Aena has a preferential right to buy Ardian's stake, whichwill be valued at more than
At a management meeting with sell-side analysts this monthAena's chairman said the company is not interested in buying outArdian's stake in
A spokesman for Aena declined to comment further whileArdian declined to comment and Rothschild did not respondimmediately to a request for comment.
European airports have been a lucrative business for privateequity firms and pension funds over the past few years becausethey offer strong growth potential from increasing global traveland services such as shops, on-site hotels and car parking.
Banking sources expect infrastructure fund GlobalInfrastructure Partners to sell investments in
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In 2014 Luton gained approval for expansion of the airportand its runaway to boost capacity and attract budget airlinesincluding Wizz Air and Easy Jet.
Almost 16 million passengers travelled to and from theairport last year, the airport's website says.
In the year to March 2017 Luton airport generated earningsbefore interest, tax, depreciation and amortisation (EBITDA) of52.6 million pounds.
Ardian, which handles