Mobile  |  About us  |  Photos  |  Videos  |  Subscriptions  |  RSS Feeds  |  Today's Paper  |  Classifieds  |  Contact Us
The Daily Star
SUNDAY, 20 APR 2014
12:05 PM Beirut time
Weather    
Beirut
22 °C
Blom Index
BLOM
1,214.01down
Middle East
Follow this story Print RSS Feed ePaper share this
Qatar buys fifth of UK airport operator BAA
Associated Press
A+ A-

DUBAI, United Arab Emirates: A Qatari government investment fund on Friday said it had reached a deal with Spanish company Ferrovial to buy 20 percent of the company that operates London's Heathrow, Stansted and other British airports.

Qatar Holding LLC said it had agreed to buy the stake in BAA from Spanish infrastructure group Ferrovial S.A. and two other existing investors in the airport company.

Ferrovial said in a statement it was selling 10.6 percent of FGP Topco Ltd., the holding company that owns BAA, to Qatar Holding for 478 million pounds ($748.9 million).

Qatar Holding is the main investment arm of the natural gas-rich Gulf nation's sovereign wealth fund. It has several investments in the United Kingdom, including British bank Barclays and Harrods department store.

Ferrovial said that Britannia Airport Partners and GIC had also sold shares in Topco to Qatar Holding, bringing up the fund's holdings in the airport operator to 20 percent.

"The total value of the shares purchased is thus 900 million pounds sterling, or $1.4 billion," Ferrovial said, adding that the sale required approval from the European Competition authorities and was "expected to be completed before the end of the year."

Ferrovial CEO said his group welcomed Qatar Holding's investment and hoped it would "ensure that Heathrow retains its position as one of the best infrastructure assets in the world."

A consortium headed by Ferrovial acquired BAA in June 2006.

 
Home Middle East
 
     
 
Qatar
Advertisement
Comments  

Your feedback is important to us!

We invite all our readers to share with us their views and comments about this article.

Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.

comments powered by Disqus
Advertisement


Baabda 2014
Advertisement
Follow us on Facebook Follow us on Twitter Follow us on Linked In Follow us on Google+ Subscribe to our Live Feed
Multimedia
Images  
Pictures of the day
A selection of images from around the world- Saturday April 19, 2014
View all view all
Advertisement
Rami G. Khouri
Rami G. Khouri
Why Israeli-Palestinian talks fail
Michael Young
Michael Young
Why confuse gibberish with knowledge?
David Ignatius
David Ignatius
Echoes of 1914 characterize the Ukraine crisis
View all view all
Advertisement
cartoon
 
Click to View Articles
 
 
News
Business
Opinion
Sports
Culture
Technology
Entertainment
Privacy Policy | Anti-Spamming Policy | Disclaimer | Copyright Notice
© 2014 The Daily Star - All Rights Reserved - Designed and Developed By IDS