Ferrovial sells 5.88% of BAA for €325m

Ferrovial, indirect shareholder of 55.87% of BAA, has reached an agreement with two investment vehicles managed by Alinda Capital Partners, for the sale of a 5.88% stake in FGP BAA, for a price of €325m (£280m).

Further to the sale, Ferrovial will hold an indirect stake of 49.99% in BAA. The remaining shareholders are Britannia Airport Partners LP (26.48%) and GIC (17.65%). Chris Beale, Managing Partner of Alinda, will join the board of FGP Topco Ltd, BAA’s parent company, and the board of BAA Ltd.

Íñigo Meirás, Chief Executive Officer of Ferrovial, said: "This sale is in line with our strategy to establish a market valuation of our assets. Heathrow is one of the best infrastructure assets in the world. After this operation, we would like to underline our commitment as a long term investor in BAA remains in place."

The sale is unconditional and closing is expected to take place by the end of October. Ferrovial announced it will use the proceeds of the transaction on other new infrastructure and services projects.

Quelle: eyefortransport
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