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10Sep92 UK: KLEINWORT BENSON TO HANDLE MOWLEM'S POSSIBLE SALE OF PART OF ITS STAKE IN AIRPORT.

Mowlem has appointed merchant bank Kleinwort Benson to handle the possible sale of part of its 90 per cent stake in the London City Airport.The company says the move was prompted by 'having received a really quite serious offer', but adds 'if we don't get the right price, we won't sell'.Mowlem has invested around £40 million in the airport, and has losses so far of about £17.5 million.But the airport's prospects have been transformed in the past year by the granting of permission ...

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