MADRID (dpa-AFX) - Ferrovial SA (FRRVF.PK, FRRVY.PK), indirect shareholder of 55.87% of BAA Ltd., said it has reached an agreement with two investment vehicles managed by Alinda Capital Partners for the sale of a 5.88% stake in FGP Topco Ltd., parent company of BAA, for a price of 280 million pounds, or 325 million euros.
Ferrovial noted that further to the sale, it will hold an indirect stake of 49.99% in BAA. The company added that it will use the proceeds of the transaction on other new infrastructure and services projects.
Inigo Meiras, 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 closing of the sale is expected to take place by late October.
Copyright RTT News/dpa-AFX
