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Ferrovial sell-offs.(Europe)
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Airports International
- Article date:
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May 1, 2008
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Copyright informationCOPYRIGHT 2008 Key Publishing Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The past few weeks have seen some surprising developments surrounding UK airport operator BAA and its parent company Ferrovial of Spain. The first was the announcement on March 10 that BAA had sold its lucrative World Duty Free shopping arm to Italy's Autofrill. The deal was worth 546.6 million [pounds sterling] and gives the Italian firm a 12-year concession agreement at BAA's airports. This was another step in a Ferrovial programme to sell off non-core assets to help pay off the large debt the company incurred when it bought BAA for 10 billion [pounds sterling] in 2006.
A further major asset sale became apparent on April 2 when it was revealed that Ferrovial was ...
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