Spain's Ferrovial makes £800 million bid for Aberdeen, Glasgow and Southampton airports
Infrastructure group already owns a 25% stake in Heathrow
Monday 17 February 2014
Spain's Ferrovial has made an £800 million bid for Aberdeen, Glasgow and Southampton airports, it emerged today.
The infrastructure group is understood to have held talks with lenders including Macquarie about funding a takeover of the airports, which are owned by Heathrow Airports Holdings (HAH).
Ferrovial already owns a 25 per cent stake in HAH – formerly known as BAA – but its co-owners are keen to sell off the three airports and focus their attentions on Heathrow.
HAH’s chief executive Colin Matthews has also made clear that Heathrow is his priority.
Analysts told Reuters that an £800 million price tag for the three airports was a bit on the high side.
Juan Carlos Calvo of Espirito Santo said: “This in our view would represent a full price, arguably with limited upside in terms of synergies or efficiency as Ferrovial has already been managing these assets via HAH.”
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