FINANCIAL NEWS

Qatar Holding agrees to by 20% in BAA

18 Aug 2012

(MENAFN) Qatar Holding LLC agreed to buy 20 percent in BAA, which operates London’s Heathrow, Stansted and other British airports from Spanish infrastructure form Ferrovial and other two investors, AP reported.

Ferrovial said in a statement that it agreed to sell 10.6 percent of FGP Topco Ltd., the holding company that owns BAA, to the Qatari sovereign fund for USD748.9 million.

Ferrovial added that Britannia Airport Partners and GIC had also sold shares in Topco to Qatar Holding, totaling the fund’s holdings in the airport operator to 20 percent.

The total value of the transaction stood at USD1.4 billion), Ferrovial said, adding that the sale required approval from the European Competition authorities and was expected to be completed by year-end.

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