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Ferrovial loses BAA majority stake in share sell off

Contractor Ferrovial has agreed to sell a 5.88% stake in UK airports operator BAA to infrastructure firm Alinda Capital Partners for £280M, which will mean Ferrovial loses its majority share in BAA.

Ferrovial announced today that it would still be a “strategic partner” and that it retains its “commitment as a long term investor in BAA”. After 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%). Ferrovial said it will use the proceeds of the transaction on other new infrastructure and services projects.

The sale is expected to take place by the end of October.

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