Ferrovial to sell 10% of BAA

Sunday, 25 Oct, 2010 0

A 10% stake in BAA is to be sold by Spanish infrastructure group Ferrovial, which owns 55.87% of the airports operator, according to The Times.

 

Ferrovial said it would use the sale to fund other new infrastructure and services projects and to pay down debt, but it has not said how much it expects to raise. The group’s debt is £21.7bn.

 

BAA was forced by competition authorities to sell Gatwick last year, which lost Ferrovial €142m, and it must also sell Stansted and either Edinburgh or Glasgow on competition grounds.

 

By Linsey McNeill



 

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Linsey McNeill

Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk



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