Ferrovial sells off properties
Airports operator BAA has raised £132.5 million after agreeing to sell 33 properties owned as part of a joint venture with Morley Fund Management.
The sale raised £265 million, which will be split between BAA and Morley.
It is part of a programme of selling off non-core businesses by its owners, Ferrovial, in order to pay off debts incurred after its £10 billion purchase of BAA in 2006.
Meanwhile, BAA is coming under increasing pressure to sell off some of its UK airport assets amid concern about the way it is managing the business and its stronghold in the UK.
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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