30-Dec-2009 12:39 PM

BAA parent, Ferrovial, gains as it continues to restructure its debt, Fraport, AdP also rise

Shares in Ferrovial gained 1.8% in trading yesterday as the Spanish infrastructure company and parent of BAA agreed to sell 60% of its stake in Cintra Chile to the ISA Group of Colombia for EUR209 million.

The agreement comes as Ferrovial continues to seek to trim its debt. Earlier this week, Ferrovial signed a EUR40 million sale-and-leaseback agreement on its corporate headquarters building with a Spanish property investor.

Meanwhile, shares in India’s infrastructure company, GVK Power and Infrastructure Inc gained 0.7% yesterday. The Ministry of Civil Aviation has extended the existing ground handling policy, allowing private airlines to conduct their own ground handling at Indian airports for a further 12 months.

Elsewhere in the Asia Pacific region, Hainan Meilan International Airport’s shares jumped 3.4% yesterday, while Korean Airport Services went against the trend, closing down 1.5% in light trade.

Selected airports daily share price movements (% change): 29-Dec-2009