Europe
Spanish company Ferrovial makes bid for three British regional airports
Last Updated: 2014-02-18 16:15 | Xinhua
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The Spanish Ferrovial, a global provider of sustainable infrastructure and services, has made a bid for three British airports, the economic newspaper Expansion said on Monday.

According to the newspaper, Ferrovial chairman Rafael del Pino submitted a bid to Heathrow Airport Holdings (HAH) for the airports of Aberdeen, Southampton and Glasgow, in a deal worth of nearly 1 billion euros (1.37 billion U.S. dollars).

The Spanish company already owns 25 percent of HAH, previously BAA, and expects its partners in this company to decide in the coming weeks whether to accept the proposal or not.

Expansion reported citing sources from the airport sector that there was not a formal process open in Heathrow to sell these assets. However the operation is being discussed at the board of directors between Ferrovial and other shareholders such as sovereign wealth funds.

Expansion said that Ferrovial had already held talks at least with the Australian firms Industry Funds Management (IFM) and Macquarie, both with strong interests in the airport market.

Finally, sources from the sector explained that the possible sale of these three regional airports was because some of the biggest sovereign wealth funds, also shareholders of the group, had raised this divestment to focus on Heathrow airport and Ferrovial said that its members would be willing to buy.

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