Infrastructure company Ferrovial has begun the process of selling a minority stake in BAA to repay debt and finance new infrastructure projects.
Initially, Ferrovial plans the sale of a 10% interest in FGP Topco, parent company of BAA.
Ferrovial currently holds 55.87% of BAA, while the remaining 26.48% is held by Britannia Airport Partners and 17.65% by the Government of Singapore Investment Corporation.
In 2006, a consortium led by Ferrovial acquired BAA for £10.3bn ($16.17bn).
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