Ferrovial lowers holding in BAA
THE major shareholder in Heathrow airport owner BAA has cut its stake to just below 50 per cent.
Spanish giant Ferrovial sold a 5.9 per cent stake in the firm to investment firm Alinda Capital Partners for e325million (£283million), valuing the airport operator at e5.5billion. The move means Ferrovial can remove BAA’s debts from its balance sheet.
BAA owns Southampton and Stansted, as well as Glasgow, Edinburgh and Aberdeen in Scotland. The competition watchdog has ordered it to sell one of its Scottish airports before it sells Stansted.