* BAA to get between 1.65 bln and 1.8 bln euros-sources * BAA says talks with bidders are ongoing
* Ferrovial shares up 2.45 percent
(Adds GIP declining comment; updates shares)
By Greg Roumeliotis and Carlos Ruano
AMSTERDAM/MADRID, Oct 7 (Reuters) - A consortium led by Global Infrastructure Partners (GIP) is close to buying London's Gatwick Airport for up to 1.8 billion euros ($2.65 billion), sources familiar with the deal said on Wednesday.
Spain's Grupo Ferrovial, which controls Gatwick owner BAA, is hoping to announce a deal before Oct. 19 when a UK competition hearing is scheduled, the three sources said.
Two of the sources said the GIP team would pay between 1.65 billion and 1.8 billion euros ($2.43-$2.65 billion).
A BAA spokesman denied there was a deadline, only confirming that there were talking to several parties.
"We remain in discussions with a number of bidders and are working towards no specific deadline and no transaction has been agreed with any party," the spokesman said.
GIP declined to comment.
Ferrovial shares were up 2.45 percent at 32.68 euros at 1530 GMT while the DJ Stoxx European construction index was up 0.52 percent.
"The sale (to the GIP consortium) is about to be closed," one of the sources said.
Britain's Competition Commission has ordered BAA to sell Gatwick, Britain's second-biggest airport, as well as Stansted and either Edinburgh or Glasgow airports, due to antitrust concerns.
BAA has appealed against this decision, claiming that one member of the regulatory panel was apparently not independent enough to participate in ruling on the break-up of BAA.
LONG SAGA
Debt-laden BAA has warned it will only sell Gatwick for a good price and that it does not need the proceeds to manage its finances.
Reuters reported in May that the GIP consortium's offer was turned down by BAA as it did not come close to its regulated asset base (RAB) value of 1.6 billion pounds.
GIP then came back with a better offer, sources said.
A major hurdle in bidders meeting the RAB value has been raising the required debt financing in light of the economic downturn that has made banks wary of airport traffic projections.
But sources say GIP, which was founded by Credit Suisse and General Electric, has now firmed up its bank support.
"The market is working with the possibility the deal will close at a price close to the RAB, so an agreement within this range would be good news given the tough market conditions, especially when, at one point, there have been doubts on the viability of the sale," said an analyst who asked not to be named.
BAA has also received offers for Gatwick from a bidding group comprising Manchester Airports Group, Canada's Borealis, and the Greater Manchester Pension Fund, as well as a Citi Infrastructure Investors-led team. ($1=.6802 Euro) (Additional reporting by Paul Day and Elisabeth O'Leary in Madrid; editing by Rupert Winchester and Karen Foster)