Ferrovial in $1.3 billion bid for British airports

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Ferrovial in $1.3 billion bid for British airports

According to Spanish newspaper Expansion, Spanish infrastructure group Ferrovial has offered Heathrow Airport Holdings (HAH) 800 million pounds ($1.3 billion) for British airports Aberdeen, Glasgow and Southampton.

The Spanish company holds a 25 percent stake in HAH, previously BAA, which is owned by a consortium including Britannia Airport Partners, Singapore's GIC, Qatar Holding, Universities Superannuation Scheme Limited (USS) and Alinda Capital Partners.

Global Infrastructure Partners (GIP) and other investors could be potentially interested in buying the assets. GIP currently owns Gatwick, London City and Edinburgh airports. Manchester Airports Group, which owns Stansted, would also be a likely bidder for some of the Heathrow-owned airports.

According to the source, Heathrow airport accounts for more than 95% of its parent company's annual profits, which would make the sale of the other regional assets "inevitable" within the next three years.

Ferrovial bought Heathrow, Britain's busiest airport, and a number of other UK airports as part of its acquisition of BAA in 2006 for 10.3 billion pounds.

List of country news

Country news

  • February 18, 2014

    Bilfinger Berger fund completes acquisition of three PFI projects

    Bilfinger Berger Global Infrastructure SICAV S.A. (BBGI) has announced that it has completed the acquisition of additional interests in three PFI/PPP projects from Assura Group Limited, as previously indicated on 25 November 2013. Read more
  • February 18, 2014

    Parsons Brinckerhoff announces hires in London and New York

    Raymond Moore has been named a Senior Professional Manager in the New York City office of Parsons Brinckerhoff. Read more
  • February 18, 2014

    PQQs sought for fourth PF2 school batch

    The UK Department for Education is requesting Pre-Qualification Questionnaires (PQQs) for the fourth batch of privately financed schools in the country under the PF2 model. Read more
  • February 19, 2014

    Kier's CEO steps down

    UK construction group, Kier, announced yesterday that Paul Sheffield will step down as chief executive and from the Board with effect from 30 June 2014. Read more
  • February 20, 2014

    Technical advisor sought for Mersey bridge PFI

    On February 19, 2014, Halton Borough Council launched a tender process to find a technical adviser for the Mersey Gateway Project. Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.