Qatar Holding buys 20% stake in BAA

Victoria
By Victoria August 22, 2012 14:18

Qatar Holding buys 20% stake in BAA

Qatar Holding has announced that it has agreed terms with Ferrovial and other existing investors for the sale and purchase of a 20% indirect shareholding in BAA Ltd. (BAA). The transaction is conditional upon approval of European Union competition authorities.
BAA operates Heathrow and Stansted airports in London, Glasgow and Aberdeen airports in Scotland, as well as Southampton airport in southern England. A consortium formed by Ferrovial, FGP Topco Ltd., had acquired BAA in 2006. The agreed terms will see Qatar Holding enter the owners’ consortium with 20% shareholding, and commensurate reductions in the shareholdings of Ferrovial and other investors who participate in this transaction.
Qatar Holding maintains its view that the United Kingdom remains an attractive investment destination and there is long-term fundamental strength in the British economy. “This acquisition is a key element in our exposure to the infrastructure sector, and helps to further diversify Qatar Holding global investment portfolio. Qatar Holding looks forward to working together with our fellow shareholders and the management team of BAA to enhance the company’s industry leadership and create sustainable value.”
Barclays acted as financial advisor to Qatar Holding on this transaction.

Victoria
By Victoria August 22, 2012 14:18
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