Vultures gather, ready to feast on BAA corpse
Rival groups and infrastructure funds are preparing their approaches for BAA’s UK airports, coincidentally as it completes a complex GBP13 billion refinancing package. BAA may be forced to sell one or two of its three London region airports as part of a series of possible reforms to counter its market dominance.
Ferrovial, BAA’s beleaguered Spanish main owner, led a purchase of BAA plc for over GBP10 billion in 2006 and has this year being striving hard to reschedule the debt. [1707 words]