Spanish infrastructure company, Ferrovial, is seeking to sell a 10% stake in its airport operator, BAA, The Wall Street Journal reports. The company, which owns 56% of BAA, has not yet received any offers for the sale of the stake.
Ferrovial, which seeks to lower its $26.94 billion of debt through the stake sale, expects to get non-binding offers for BAA stake later in February, adds Reuters. Separately, BAA may sell its 4% stake in U.K.’s air-traffic controller, NATS, if the U.K. government, which holds 51% of NATS, reduces its own stake.
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