US investor interested in 10% BAA stake

Ferrovial SA is reportedly in talks with a US-based infrastructure investor about selling a 10% stake in BAA, the UK's biggest airport operator (MarketWatch/The Sunday Times/Reuters, 19-Jun-2011). Ferrovial has also drawn interest from Alinda Capital Partners, which also has a smaller stake in BAA and is the owner of South Staffordshire Water, in addition to several other pension and sovereign wealth funds. Ferrovial is seeking to sell its 56% stake down to less than 50% which will allow it to take BAA's GBP10 billion debt off its balance sheet. A 10% stake is estimated to be worth about EUR200 million (USD283 million) and the stake is been up for sale since Oct-2010