Ferrovial in talks with US infrastructure fund over BAA stake
20.06.11
Spanish infrastructure firm Ferrovial is reported to be in talks to sell a 10 percent stake in UK airport operator BAA to US infrastructure group Alinda Capital Partners. Ferrovial put the stake up for sale last October, with an estimated value of €200 million. Alinda already has a small interest in BAA after co-investing alongside CDPQ, a Canadian pension fund, which holds 26 percent in BAA, and also owns South Staffordshire Water.
Pension funds and sovereign wealth funds are also interested in buying the stake in BAA, the Times newspaper reports. Ferrovial currently owns a 55.6 percent stake in BAA, but plans to sell part of its stake in order to pay down debts and free up funds to invest elsewhere.
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