BAA shareholders to inject £400m emergency funding
09.05.08
BAA said today that its shareholders will put £400 million in cash in to the company as it faces delays in refinancing its debt. The UK airports operator is raising the money as it has not yet received 'sufficient commitments’ from lenders for the restructuring plan, the London-based company said today in a statement.
Spanish construction company Grupo Ferrovial controls 62% of BAA with the rest shared between Caisse de Depot et Placement de Quebec and Singapore's GIC fund. The shareholders have had to agreed to inject an emergency £400 million into the company in what BAA described as ‘part of the refinancing’ process.
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