Ferrovial sells stake in Bristol Airport
Spanish construction company Grupo Ferrovial said today that it sold its 50% stake in the UK’s Bristol Airport to Australia’s Macquarie Bank for £106m (€157.1m), while postponing the planned sale of a stake in Sydney Airport.
Ferrovial earlier this year signed options agreements committing it to sell its share of Bristol Airport as well as a 20.9% stake in Australia’s Sydney Airport to Macquarie Airports, a unit of Macquarie Bank.
The option for Bristol Airport was later passed on to one of the bank’s investment funds, Macquarie European Infrastructure Fund.
A spokesman for Ferrovial said the Bristol Airport option would be exercised today, while the purchase option for the Sydney Airport stake, which also expires today, would be pushed back to between February 1 and March 31.
Ferrovial earlier this year bought BAA, the world’s largest airport operator and the owner of London’s Heathrow, Gatwick and Stansted airports. The company said it would divest some of its assets to lower financing costs linked to the purchase.
