BAA Sell Australian Assets

BAA has sold its subsidiary which holds the group's interests in six Australian airports to Hastings Fund Management, an Australian entity.

The A$775m deal is part of BAA's strategy to dispose of non-core international assets, the company says.

The sale involved a 19.8 percent interest in Melbourne and Launceston airports, 15 percent in Perth and ten percent stakes in three Northern Territory airports.

By stafff writer